Today’s trading was important in revealing whether the past few days of indecisive pullback was merely profit-taking or the beginning of a downtrend. Currently it appears as if the T line was acting as support for the S&P 500 and the NASDAQ. The transportation index is showing strong selling. This makes today’s market close in the other indexes very important. There needs to be continued strength maintaining into the close.
June 4th Daily Market Comments
Today’s trading was important in revealing whether the past few days of indecisive pullback was merely profit-taking or the beginning of a downtrend. Currently it appears as if the T line was acting as support for the S&P 500 and the NASDAQ. The transportation index is showing strong selling. This makes today’s market close in the other indexes very important. There needs to be continued strength maintaining into the close.