November 6th Daily Market Comments

More consolidation but nothing that shows a change of investor sentiment yet. Anticipate a slow trading day/profit-taking. Analyze each individual stock chart, looking for potential reversal signals. The length of this market trend will allow for taking profits in specific stocks/sectors and rotating that money into new positions. Stay predominantly long as long as the indexes continue to trade above the T-line. Today, the 3T-line is acting as a support level.