May 15th Daily Market Comments

Yesterday’s potential reversal signals in the market indexes are being confirmed Today. An expected pullback to the T-line has already been experienced in the NASDAQ and S&P 500. Both indexes have touched the T-line and showing support. Numerous stocks sold off on today’s early trading but are now coming back up. This would imply today as a profit-taking day, not necessarily a market reversal. Continue to watch to see what the indexes do at the T-line.