June 3rd Daily Market Comments

The anticipated profit-taking was signaled by the lack of any bullish strength in the market indexes over the past few trading days, especially in the overbought condition. However, although the market indexes are trading lower, they are currently trading near the high end of there trading range. Take profits on weak signals in the overbought area. There are new sectors showing strength. Oil stocks are still strong, electric vehicle stocks are picking up strength.