The expected consolidation/shifting of funds is evident with the Dow trading lower today but the NASDAQ trading higher. This indicates there is no real dramatic change of investor sentiment, merely shifting from sector to sector. Profit-taking was expected after a strong rally as seen over the past week. Be prepared to take profits, albeit very short-term, on price moves that have moved exorbitantly over the past week. The uptrend is not showing that it is over, but be prepared for backing and filling.
November 15th Daily Market Comments
The expected consolidation/shifting of funds is evident with the Dow trading lower today but the NASDAQ trading higher. This indicates there is no real dramatic change of investor sentiment, merely shifting from sector to sector. Profit-taking was expected after a strong rally as seen over the past week. Be prepared to take profits, albeit very short-term, on price moves that have moved exorbitantly over the past week. The uptrend is not showing that it is over, but be prepared for backing and filling.