The markets provided the hint yesterday there would be profit-taking Today. The Dow and the S&P 500 gapped up in the overbought area. The NASDAQ formed a hanging man signal. That information provided the stimulus to take some profits. Unless there is some very strong buying in the markets going into the close today, expect some more selling.
September 3rd Daily Market Comments
The markets provided the hint yesterday there would be profit-taking Today. The Dow and the S&P 500 gapped up in the overbought area. The NASDAQ formed a hanging man signal. That information provided the stimulus to take some profits. Unless there is some very strong buying in the markets going into the close today, expect some more selling.