July 10th Daily Market Comments

Although there is not any dramatic buying in the market today, the indexes reveal the confirmation of the bullish support demonstrated on Friday. The kicker type signal in the NASDAQ brought that index back up to the T-line. Today’s positive trading is currently forming a Doji above the T-line but resisting at the 50 Day Moving Average. The Dow continues to form a slow Frypan Bottom pattern using the T-line as a support level. The lack of selling pressure is illustrated by the biggies such as AMZN , NVDA, NFLX confirming the reversal signals that formed on Friday. This is another visual evidence that investor sentiment has not turn bearish. The lack of dramatic overall market direction still makes the analysis of each individual stock/sector the main priority.

Share

July 7th Daily Market Comments

Today’s positive trading currently indicates the lack of aggressive selling, continuing to make the sideways drift of the market the top prognosis. These market conditions still indicate having both long and short positions in the portfolio. Although the market does not want to go higher, it does not appear to want to go lower either. The T-line remains a crucial factor for analyzing which direction a trend is moving.

Share

July 6th Daily Market Comments

The magnitude of Today’s selling is negating any candlestick bullish signals or patterns in the indexes. Yesterday’s trading in the Dow formed a hanging man/Doji at the breakout area. Today’s Gap Down in the Dow is trading below Yesterday’s low of the Doji and currently trading below the T-line. A close in this area would put the markets back into a slow sideways drift at best. The NASDAQ formed a Bullish Harami Yesterday. It needed to open positive demonstrating the support level was continuing to act as support. Today’s gap down below Yesterday’s open reveals severe weakness in the NASDAQ. Unless the market indexes close near the high end of their trading ranges, especially backup above the T-line, the direction of the market will be dismally sideways at best.

Share

July 5th Daily Market Comments

Although the Dow is trading slightly lower today, it has revealed that it was using the T-line as support at the low of the day. The NASDAQ is trading higher Today, the S&P 500 is trading flat. This indicates there is no major change of investor sentiment, the slow uptrend in the markets continue. Sector rotation is in progress. Long positions and short positions should be based upon identifying and utilizing the strong candlestick charts. The remaining trading days of this week may be fairly low-volume due to the holiday week, the vacationing mode is still prevalent.

Share

June 30th Daily Market Comments

Today’s positive trading is trading as a Doji Day in the Dow  and S&P 500, showing indecision in an indecisive market trend. This continues to reveal there is no bullish or bearish consensus in this market, a sideways mode is still the likely prognosis. Continue to hold long positions that are acting strong and shorting positions that continue to act weak. Obviously not a profound trading strategy, but the best strategy for when the markets are showing no decisiveness.

Share

June 29th Daily Market Comments

Today’s selling demonstrates that Yesterday’s bullish trading day was merely showing the indecisive sideways trend of the overall market. The Dow and S&P 500 are not showing any dramatic selling Today but the NASDAQ continues to sell off hard. However, the transportation index is still showing some strength. These market conditions illustrate the lack of consensus between the Bulls and the Bears, demonstrating specific sectors are being bought while other sectors are being sold. Have both long and short positions in the portfolio. This is why we recommend Trend Analysis.

Share

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.

Share

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.

Share

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.

Share

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.

Share
Trading in the Stock Market, Trading Options, Trading Futures, and Options on Futures, involves substantial risk of loss and is not suitable for all investors. Past Performance is not indicative of future results. CandlestickForum.com, Candlestick-Trading-Forum.com, StephenBigalow.com, and Candlestick Forum LLC do not recommend or endorse any specific trading system or method. We recommend that you research all trading systems, methods and market strategies thoroughly. Full Disclaimer here