Morning Market Update for December 02, 2013

The Dow formed a hybrid Shooting Star pattern on Friday, indicating the possibility of some consolidation. Today, the Dow has touched the 8ema and bounced back up, showing that Monday's weakness of the Dow is merely profit-taking, the 8ema is still acting as support. The NASDAQ and the S&P 500 are not moving one way or the other. Bottom line, investor sentiment has not changed, the uptrend is still in progress. The lack of strength or weakness in this market indicates no change of investor sentiment.