June 11th Daily Market Comments

Be careful! Yesterday the indexes did Doji’s/shooting star signals, after they just climbed up above the 50 day moving average. Although today’s markets are trading positive, they are currently not able to move away from where they opened, forming Doji’s. The uptrend remains in progress but the distance the indexes have moved away from the T-line provides a very strong alert to watch for potential profit-taking. Watch your 10 minute charts.