The markets continue to drift lower, with emphasis on the term drift. The Dow, although trading lower, is forming another Doji type trading day, continuing to trade above the T-line. The NASDAQ and S&P 500 are also currently forming a Doji days at the T-line area. The indecisive nature of the daily formations illustrate there is no strong selling pressure. And there has not been a candlestick sell signal in the Dow or the NASDAQ. Anticipate more profit-taking but until there is a dramatic sell signal, the uptrend is likely still in progress.
March 7th Daily Market Comments
The markets continue to drift lower, with emphasis on the term drift. The Dow, although trading lower, is forming another Doji type trading day, continuing to trade above the T-line. The NASDAQ and S&P 500 are also currently forming a Doji days at the T-line area. The indecisive nature of the daily formations illustrate there is no strong selling pressure. And there has not been a candlestick sell signal in the Dow or the NASDAQ. Anticipate more profit-taking but until there is a dramatic sell signal, the uptrend is likely still in progress.