A learning experience – the positive trading yesterday in the market indexes did not create reversal signals, merely an up day. Because it was not a reversal signal, it can be assumed there was not any major change of investor sentiment. Today’s lower trading confirms. Nothing has changed in the current trend/nature of the market. It continues to move in a sideways mode, making each individual chart the predominant analytical factor. Long positions should not be showing sell signals/weakness, short positions should not be showing bullish candlestick signals. The patterns continue to work as the most effective profitable trade results. This is why we recommend being strong in trend analysis.
April 18th Daily Market Comments
April 18, 2017