The J-hook pattern in the NASDAQ is providing the best evidence that the markets should continue in slow uptrend even though the Dow is not showing any great bullish sentiment. The S&P 500 is flat and the transportation index is consolidating during the scoop uptrend. Overall, this indicates no major change of investor sentiment, the slow uptrend of the markets should remain in progress. Stay predominantly long but start taking profits in some sectors and re-invest in new sectors, rotation is in progress.
June 13th Daily Market Comments
The J-hook pattern in the NASDAQ is providing the best evidence that the markets should continue in slow uptrend even though the Dow is not showing any great bullish sentiment. The S&P 500 is flat and the transportation index is consolidating during the scoop uptrend. Overall, this indicates no major change of investor sentiment, the slow uptrend of the markets should remain in progress. Stay predominantly long but start taking profits in some sectors and re-invest in new sectors, rotation is in progress.