Expects some profit-taking today, but there is not yet anything showing any change of the bullish investor sentiment. The indexes are now approaching potential resistance levels. The transportation index has hit the 50 day moving average. The NASDAQ is approaching the all-time high of a month ago. However, overall there are numerous stocks that have come back and use the T-line as support and continuing their uptrends. This visual assessment indicates there is no real bearish pressure on the markets. Stay predominantly long but be prepared to take profits on any signs of weakness.
September 1st Daily Market Comments
Expects some profit-taking today, but there is not yet anything showing any change of the bullish investor sentiment. The indexes are now approaching potential resistance levels. The transportation index has hit the 50 day moving average. The NASDAQ is approaching the all-time high of a month ago. However, overall there are numerous stocks that have come back and use the T-line as support and continuing their uptrends. This visual assessment indicates there is no real bearish pressure on the markets. Stay predominantly long but be prepared to take profits on any signs of weakness.