November 12 Daily Market Comments

As expected after Tuesday’s Doji in the Dow, some profit-taking has occurred. It can be analyzed more as profit-taking versus any trend reversal just yet based upon the fact that the NASDAQ opened lower and is trading above where it opened. This illustrates the Bulls are still participating even though the NASDAQ index is still down slightly. The graphics of candlesticks provides much more accurate evaluations of what is occurring.