As anticipated, with the indexes moving a considerable distance above the T-line, there is expected profit-taking occurring Today. Currently, the market indexes are pulling back but with an indecisive Doji type day, illustrating a lack of aggressive selling. Expect some consolidation, may be over the next day or two, but nothing yet has shown there is a change of investor sentiment. Stay predominately long, keep safety stops in place.
October 13th Daily Market Comments
As anticipated, with the indexes moving a considerable distance above the T-line, there is expected profit-taking occurring Today. Currently, the market indexes are pulling back but with an indecisive Doji type day, illustrating a lack of aggressive selling. Expect some consolidation, may be over the next day or two, but nothing yet has shown there is a change of investor sentiment. Stay predominately long, keep safety stops in place.