June 28th Daily Market Comments

Today’s positive trading continues to make the T-line a very vital factor in trend analysis. The NASDAQ has tested the 50 Day Moving Average Today before bouncing up while the Dow opened at the T-line Today and moved positive, the S&P 500 Gapped Up and is currently trading right at the T-line, and the transportation index has done a Kicker Signal bouncing off the T-line and continuing a J-hook pattern. Overall, after the hard selling of Yesterday, Today’s positive trading indicates there is no dramatic selling pressure. The market indexes should continue at least in a sideways, if not a slow uptrend manner. Each individual stock chart remains the main criteria for both long and short positions.

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June 27th Daily Market Comments

The T-line remains an important trend factor. The Dow is trading above the T-line. The NASDAQ is doing a Doji right on the T-line. This indicates there is no dramatic change of investor sentiment, the slow uptrend remains in progress. Stay predominantly long, utilizing the T-line as a support level for each individual position.

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June 26th Daily Market Comments

Today’s positive trading, other than the NASDAQ, continues to demonstrate a slow uptrend in the market as long as the indexes do not close below the T-line. Continue to stay long in charts that do not demonstrate a sell signal and a close below the T-line. The biotechs continue to act strong. Crude Oil is trying to based around the $43 area but still not showing any major trend of the downtrend. This is why we recommend Trend Analysis.

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June 23rd Daily Market Comments

The candlestick breakout patterns continue to work effectively in this market that is not showing any dramatic change of investor sentiment. Today CARA  Gapped Up after a strong buy signal through the resistance level. The ability to recognize strong buy signals going into a resistance level produces extremely high probabilities of Big Breakout trades. They become much more effective when able to analyze the overall direction of the markets. Currently the market indexes continue to utilize the T-line as an uptrending support level.

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June 22nd Daily Market Comments

The health care rhetoric going on in Washington today appears to be adding strength of the market indexes. This also illustrates the T-line acting as support for all the indexes. The healthcare/biotech sector continues to act very bullish. The market conditions still make pinpointing the strong charts in specific stocks and sectors the main investment criteria. Stay predominantly long.

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June 21st Daily Market Comments

The ability to pinpoint which sectors are acting the best, even when the market is not showing any major trend, is amplified by the illustration of the chart movements in specific sectors. LABU clearly indicated the biotech sector was acting well, making stocks in that sector a viable strong trades. It also allowed for a good trade in LABU  itself, either stock or options. The graphics of candlestick charts allow for pinpointing which areas of the markets are acting the best. This is why we recommend Trend Analysis.

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June 20th Daily Market Comments

The major indexes are showing some profit-taking from Yesterday’s big price move but no change of investor sentiment. The transportation index is selling off hard. This may be a healthy indication that specific sectors are getting hit with profit-taking but the overall market remains in a study uptrend. The profit-taking along the way implies there is no exuberance coming into this market. Stay predominantly long but use the candlestick charts to illustrate which stocks/sectors are acting the strongest. This is why we recommend Trend Analysis.

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June 19th Daily Market Comments

Today’s positive trading has produced gap ups in the indexes. The Dow, which is been moving steadily up, has a gap up in the overbought condition. This would normally create an alert for some potential profit-taking. However, the gap ups in the NASDAQ, the S&P 500, and the transportation index provide strong Bullish Signals after some consolidation. Today will be a very bullish indication provided the indexes close at the higher end of their trading range. Currently, it has to be assumed the uptrend remains in progress as long as the indexes trade above the T-line.

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June 16th Daily Market Comments

The markets remain in an indecisive consolidation stage, the NASDAQ appears to be drifting lower toward the 50 Day Moving Average. The S&P 500 is moving sideways and cannot get back up above the T-line. The Dow and S&P 500 are trading above the T-line but with indecisive trading. Hopefully this is not the summer doldrums. There are good trades continuing with the T-line be in the ultimate support levels. These market conditions warrant being very selective as far as long and short positions. This is the normal environment when the markets are not showing any major trend.

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June 15th Daily Market Comments

The big break down in the NASDAQ last week has been confirmed with the failure of a close backup above the T-line. Yesterday’s bearish engulfing signal at the T-line illustrated the lack of Bullish pressure. Today’s Gap down in the NASDAQ indicates the 50 Day Moving Average will be a likely target. The transportation index did a bearish engulfing signal yesterday followed by Today’s gap down which is trading below the T-line. The S&P 500 formed a Hanging Man signal Yesterday followed by a Gap down below the T-line Today. Although the Dow is trading lower, it is still trading above the T-line. However the overall analysis of all the market indexes illustrate sellers starting to take control. Be prepared to take profits if the markets do not show any strength Today.

 

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