June 9th Daily Market Comments

The Dow and the S&P 500 trading lower today have moved those indexes back below the T line. The NASDAQ is hovering at the T line. The indecisive flat trading of the indexes over the past two weeks produce the prospects of another wave to the downside based upon stochastics being in the overbought condition and indexes not trading with any great upward trajectory. Be careful of long positions unless they have compelling bullish charts. Start orienting more toward the short side.