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March 6th Daily Market Comments

T-line rule – the downtrend remains in progress as long as the indexes cannot close back up above the T line. Note how the early bounce in the Dow moved up and failed right in the T line area. Obviously the bearish J-hook patterns are working very well today, ARCT, SOL, CHWY,FUBO and the blue ice failure patterns are working very well, CLSK, INMB. Stay predominately short until the appearance of any bullish signals in the indexes. … [Read More...]

March 4th, 2021 Stock Chat with Jeff Tompkins

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 03/04/21 … [Read More...]

March 4th Market Wrap-Up

Candlestick analysis produces extremely high probability trade patterns. The bearish J-hook pattern has produced good profits in this current downtrend. The bearish J-hook pattern produces high probabilities of a downtrend direction as well as enhanced profitability. The magnitude of a pattern movement is dramatically stronger than merely a down-trending stock price during a market downtrend. The T line rule is still in progress, the markets are in a downtrend. Stay short in bearish positions that continue to as well as below the T line. The inflation comments may have a lingering effect on investor sentiment, with the passing of another stimulus bill adding fuel to the fire. Stay predominately short, numerous bearish J-hook patterns working effectively. The bearish J-hook patterns provide additional strength to the downside. CLSK is demonstrating a Blue Ice Failure, giving it more bearish credence. Using this additional information greatly improves your probabilities of being in a correct trade as well as a strong profitable bearish trade. Our current short positions have a very simple trading strategy. Stay short until you see a reversal signal and a close back up above the T line. This simple trading strategy allows investors to discipline themselves to not take profits too early, just because they have a profit. Join us Saturday for the Power Tade training, utilizing the instant visual combination of indicators to improve your trade probabilities. Chat session tonight at 8 PM ET with Guest Speaker Jeff Tompkins. Click here to register. Good investing, The Candlestick Forum team … [Read More...]

March 4th Daily Market Comments

Today's oscillation in the indexes continue to reveal a lack of cohesiveness in the bulls or the bears. The prevailing trend is still influenced by the T line rule, a downtrend is in progress as long as the indexes continue to trade below the T line. Obviously, the shorts have been working well today. Use the T line as your ultimate criteria to keep from getting whipsawed.   … [Read More...]

March 3rd Daily Market Comments

The lack of any buy signals in the Dow is demonstrating a lack of any direction in the Dow. The NASDAQ and the S&P 500 failed thereby signals of a few days ago and are trading back below the T line. This creates the prospects of a bearish J-hook pattern. A close at the lower end of today's trading, especially in the NASDAQ, would warrant making sure you have short positions in the portfolio. Until the indexes can close above the T line, there is no bullish direction.   … [Read More...]