The markets are demonstrating some profit-taking, as expected, after a big run-up over the past few trading days. Note that even though the indexes are currently trading lower, they are trading above where they opened, indicating this morning selling is probably just profit-taking. Stay predominately long but there continue to be good short positions also. The uptrend will remain in progress provided the indexes close above the T line.
September 24th Daily Market Comments
The markets are demonstrating some profit-taking, as expected, after a big run-up over the past few trading days. Note that even though the indexes are currently trading lower, they are trading above where they opened, indicating this morning selling is probably just profit-taking. Stay predominately long but there continue to be good short positions also. The uptrend will remain in progress provided the indexes close above the T line.