Dave Landry
02-07-2012, 08:07 AM
Random Thoughts
With a flat day, not much has changed. The shorter-term persistent uptrend remains intact. However, the market is overbought at these levels. So, once again:
If you have been buying into this rally as I have been suggesting, then use this opportunity to take partial profits as offered. And if you haven't, it's a little too late for this cycle to start buying. Wait for the next pullback then look to get in if the trend shows signs of resuming.
Futures are flat to soft pre-market.
Click here to watch today's Market in a Minute. (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
Best of luck with your trading today!
Dave
__________
Expert swing trader Dave Landry comments on the charts for the major markets, indexes and sectors for the upcoming trading day in his daily one-minute video.
Make sure your sound is turned up. A new browser window will open and the video will begin playing within a few seconds.
Click here to watch today's Market in a Minute. (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
http://www.stock-monkey.com/ads/davelandry/marketinaminute.gif (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
You can contact Dave Landry by email at dave@davelandry.com or visit his website DaveLandry.com (www.DaveLandry.com).
With a flat day, not much has changed. The shorter-term persistent uptrend remains intact. However, the market is overbought at these levels. So, once again:
If you have been buying into this rally as I have been suggesting, then use this opportunity to take partial profits as offered. And if you haven't, it's a little too late for this cycle to start buying. Wait for the next pullback then look to get in if the trend shows signs of resuming.
Futures are flat to soft pre-market.
Click here to watch today's Market in a Minute. (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
Best of luck with your trading today!
Dave
__________
Expert swing trader Dave Landry comments on the charts for the major markets, indexes and sectors for the upcoming trading day in his daily one-minute video.
Make sure your sound is turned up. A new browser window will open and the video will begin playing within a few seconds.
Click here to watch today's Market in a Minute. (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
http://www.stock-monkey.com/ads/davelandry/marketinaminute.gif (http://www.tradingcommentary.com/mim/mim020712/mim020712.html)
You can contact Dave Landry by email at dave@davelandry.com or visit his website DaveLandry.com (www.DaveLandry.com).