July 20th Daily Market Comments

The early Monday morning profit-taking saw the Dow use the T-line as a support level, The NASDAQ and the S&P 500 use the T-line as support and now trading positive. The nature of the market trend remains consistent with the past couple of weeks, specific stock/sectors continue to act well. The Biotech’s showed some early profit-taking today but now have seen the bulls step back in. The gold stocks remained positive. Continue to stay predominately long but be ready to roll out of sectors that are starting to show profit-taking and move funds to new sectors, sector rotation.