November 29th Daily Market Comments

The expected profit-taking after yesterday’s big huge move to the upside is in progress. As long as the market indexes do not give back a majority of yesterday’s gains, anticipate this as early morning profit-taking. Watch to see if the indexes come back up toward the top end of the trading range by the end of the day. This would imply the profit-taking is over. As long as the indexes currently stay above the T-line, assume the uptrend remains in progress. Expects to be sitting and watching Today. Aggressive traders can buy pullbacks that appear to be supporting at T-line’s.