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February 26th Daily Market Comments

  Morning Member Comments Yesterday's strong selling was a major reversal signal in investor sentiment. Although the indexes opened higher Today, it had to be viewed with skepticism as merely a bounce after yesterday's hard selling. Add short positions to the portfolio, a downtrend is likely to be in progress until there is an observable bullish reversal signal. CGIX should not be bought. CAN can be shorted on Today's weakness with the first target filling the gap. FUBO can be shorted on Today's weakness. CRUS can be shorted with the anticipation of wave three moving prices down to the $70 level. The magnitude of yesterday's selling illustrated the major change of investor sentiment, this is what candlestick analysis indicates. Have the portfolio oriented toward the short side until there are buy signals and a close back up above the T line in the indexes. Mark your calendars, March 6 will be a mini training on "power trades", utilizing convergence analysis to dramatically improve the probabilities of being in a correct trade. … [Read More...]

February 25th, 2021 Stock Chat with Stephen Bigalow

To Download recorded sessions; In order to download click on the link below, once on the video page you will click on the three dotted vertical line located at the bottom right hand side of the video player and click on "download" to save to your files. Stock Chat - Thursday 02/25/21 At the end of the webinar, Steve announced his upcoming “Identify Power Trades” event, which he’ll present on Saturday, February 20th. This 90-minute training workshop will provide you with visual perspectives that will improve your investing for the rest of your life. Click here for more information. … [Read More...]

February 25th Market Wrap-Up

The candlestick charts would have put you in good short trades over the past few weeks. Yesterday's bullish trading in the Dow, breaking out into new high territory, acted as an alert. It had the possibility of being the last gasp buying in an uptrend. Although the Dow was trading above the T line, the NASDAQ and the S&P 500 had been trading below the T line. Our chat room morning comment warning was to be careful of strong selling in the Dow, after yesterday's strong breakout buying at the top. Today's selling gave back all of yesterday's bullish trading and then some in all the indexes. This is a very powerful candlestick reversal indication. The NASDAQ and the S&P 500 implemented the strategy of having both long and short positions in the portfolio. It was evident there were as many more good short trades developing than long trades. This allows for a very simple trading strategy for the past few weeks. Add short positions to the portfolio and start closing out long positions that were showing sell signals and/or weakness in overbought areas.https://youtu.be/x7oSqYFpRN8 Candlestick analysis alerts an investor of changes of investor sentiment. Analyzing what the candlestick signals and patterns are revealing in the market indexes overcomes most investors bullish enthusiasm. Do what the charts are telling you is occurring in investor sentiment and you'll have your trade positions in the correct direction an extremely high percentage of the time. This is based upon a very simple premise. The Japanese rice traders have identified when investor sentiment is changing. Use this to your advantage. Join us tonight in our chat session identifying the common sense applications of stop losses utilizing candlestick analysis.     Chat session tonight at 8 PM ET. Click here to register. Good investing, The Candlestick Forum team … [Read More...]

February 25th Daily Market Comments

Profit-taking is expected after yesterday's big up day. The Dow and transportation index continues to trade above the T-line. The NASDAQ and the S&P 500 are trading in a sideways mode. The trading strategy remains the same, have both long and short positions in the portfolio. The stimulus package appears to be the major bullish prospect for the market indexes. Obviously the sectors that are going to benefit from stimulus bailout continue to act well while other sectors are being sold. The T line remains the ultimate trend indicator after candlestick bullish or bearish patterns.   … [Read More...]

February 24th Daily Market Comments

The Dow continues to trade above the T-line, actually setting up a slow curve potential breakout to the upside, as long as it remains above the T line. The Dow and the transportation index up, the NASDAQ trying to show support at the 50 day moving average. The continued trading above the T line in the Dow demonstrates the lack of any selling pressure although it has revealed a lot of indecision over the past three weeks. The T line rule remains in effect, the Dow will remain in an uptrend as long as it can't close below the T line. Note that many of the bullish trading stocks use the T line as support over the past few days when the markets are selling off. Keep safety stops in place.   … [Read More...]