Yesterday’s little gap up in the market indexes, followed by selling later in the day, implied there would probably be some profit-taking. Today’s lower trading is currently trading well off their low in the indexes. As long as there is not any major selling candle today, assume that today is merely a profit-taking day. Continue to utilize the T-line as your final criteria for recognizing a change of investor sentiment.
March 20th Daily Market Comments
Yesterday’s little gap up in the market indexes, followed by selling later in the day, implied there would probably be some profit-taking. Today’s lower trading is currently trading well off their low in the indexes. As long as there is not any major selling candle today, assume that today is merely a profit-taking day. Continue to utilize the T-line as your final criteria for recognizing a change of investor sentiment.