July 23rd Daily Market Comments

Hard selling in the markets? The Doji type days indicate indecisive selling, profit-taking during the uptrend. The indexes continue to trade above the T line without any evidence of reversal signals. Additionally, there are sectors trading positive while other sectors are trading lower, an indication of a steady market. The home builder stocks are acting well, retail stocks are holding up well. Stay predominately long but in the strong sectors. The uptrend remains in progress.