Profit-taking or a reversal? This question can be much easier answered when using candlestick analysis. The Dow and the NASDAQ are selling off, as expected with the potential reversal signals of Monday. However, the transportation index continues to trade higher. This would be a good indication that there has not been a change of investor sentiment, merely profit-taking. Stay long but there are still good short positions in the oil sector.
November 4 Daily Market Comments
Profit-taking or a reversal? This question can be much easier answered when using candlestick analysis. The Dow and the NASDAQ are selling off, as expected with the potential reversal signals of Monday. However, the transportation index continues to trade higher. This would be a good indication that there has not been a change of investor sentiment, merely profit-taking. Stay long but there are still good short positions in the oil sector.