Today’s trading is demonstrating another indecisive trading day, the Dow and the S&P 500 currently forming Doji’s, the NASDAQ pulling back almost to the T-line and the transportation index trading positive. Although this does not show any change of the current trend, the fact that the Dow and the S&P 500 have formed a series of doji’s in the overbought condition should be an alert. Stay predominately long but be ready to take some profits if any weakness starts appearing in the markets.
October 21st Daily Market Comments
Today’s trading is demonstrating another indecisive trading day, the Dow and the S&P 500 currently forming Doji’s, the NASDAQ pulling back almost to the T-line and the transportation index trading positive. Although this does not show any change of the current trend, the fact that the Dow and the S&P 500 have formed a series of doji’s in the overbought condition should be an alert. Stay predominately long but be ready to take some profits if any weakness starts appearing in the markets.