June 16th Daily Market Comments

The markets remain in an indecisive consolidation stage, the NASDAQ appears to be drifting lower toward the 50 Day Moving Average. The S&P 500 is moving sideways and cannot get back up above the T-line. The Dow and S&P 500 are trading above the T-line but with indecisive trading. Hopefully this is not the summer doldrums. There are good trades continuing with the T-line be in the ultimate support levels. These market conditions warrant being very selective as far as long and short positions. This is the normal environment when the markets are not showing any major trend.