The NASDAQ continues to trade higher, the transportation index is forming a nice scoop pattern, the S&P 500 is in a nice slow uptrend above the 3T-line, and the Dow is trading basically flat but still above the 3T-line. Nothing has changed yet in the overall market trend/investor sentiment, however expects some profit-taking more so in the Dow and S&P 500. They have shown a couple indecisive/Doji days. Stay predominantly long but be ready to take some profits.
June 12th Daily Market Comments
The NASDAQ continues to trade higher, the transportation index is forming a nice scoop pattern, the S&P 500 is in a nice slow uptrend above the 3T-line, and the Dow is trading basically flat but still above the 3T-line. Nothing has changed yet in the overall market trend/investor sentiment, however expects some profit-taking more so in the Dow and S&P 500. They have shown a couple indecisive/Doji days. Stay predominantly long but be ready to take some profits.