Although the markets open lower today, the indexes are now trading back up toward the top of their trading range and the NASDAQ is now trading positive. The expected profit-taking from yesterday’s Doji’s may have already occurred. However, continue to be on the defensive, weaker trading before the end of the day would still reveal a pullback to see if the moving averages they had acted as possible resistance are now going to act as support.
October 13 Daily Market Comments
Although the markets open lower today, the indexes are now trading back up toward the top of their trading range and the NASDAQ is now trading positive. The expected profit-taking from yesterday’s Doji’s may have already occurred. However, continue to be on the defensive, weaker trading before the end of the day would still reveal a pullback to see if the moving averages they had acted as possible resistance are now going to act as support.