September 10th Daily Market Comments

Today’s selling is exhibiting evidence of merely some profit-taking. This is not unusual to see selling early in the day followed by buying when there is an uptrend in progress. Also, the watch lists are showing a good percentage of positions trading positive today. And the transportation index continues to trade positive. The accumulation of these factors lean toward the current selling merely being consolidation. However, it will be important to see if today’s trading in the indexes are trading toward the upper end of the range or near the lower end of the range.