The indexes were nudging the top of the resistance level yesterday in the overbought condition. The NASDAQ did a Doji, at least providing a little warning that the upper resistance area may still be relevant. Today's lower trading confirms a major change of investor sentiment at that level. The NASDAQ is currently trading back below the T line, as well as the transportation index. The short positions are working extremely well.
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Candlestick charts make analyzing the overall market direction extremely easy, this is a very important factor for establishing positions in the portfolio. However, there is another important factor using candlestick signals and patterns to analyze the overall market trend. It allows the candlestick investor to understand the nature of investor sentiment. The uptrend, with the market indexes staying above the T line, revealed there is very little bearish fear currently in the market. This makes identifying strong power trades easy. Knowing that the kicker signal is one of your strongest candlestick signals, and also knowing that the overall market sentiment is relatively bullish, allows for taking advantage of big percent moves. This was demonstrated in early identification of kicker signals in BTBT and NCTY. Candlestick investors gain a huge advantages by not only recognizing the signals and patterns that are going to produce high probability trade results but also understanding the investor sentiment that creates market movements allows for making excessive profits in chart pattern breakouts. This is making hay while the sun shines! Candlestick analysis consistently puts the probabilities in your favor. If you are having problems making consistent profits, the common sense logic built into candlestick signals and patterns will dramatically improve your trading abilities. Join us at the Candlestick Forum. The information provided on a daily basis in the chat rooms will dramatically improve your trading assessments.
Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team … [Read More...]
Observe the obvious, the slow uptrend in the market indexes continue, staying well above the T-line. The evaluation of individual stock charts remain the top criteria. Numerous charts show buy signals and trading back up above the T line. Stay predominately long.
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Stock Chat – Thursday 07/22/21
Be my Guest for one full week where you will enjoy being surrounded by like-minded traders (newbie to veterans) all with one common goal: To trade profitably.
Register for your FREE Week in my Live Trading Room!
No credit card information is required ~ No strings attached! Just join us anytime during the week of your choice. You can choose the week of July 26th. Stay for an hour or stay all week. Either way, you're welcome to be our Guest and see what goes on in our Live Trading Room. Click here to get your complimentary Guest Pass Now! … [Read More...]
July 27th Daily Market Comments
The indexes were nudging the top of the resistance level yesterday in the overbought condition. The NASDAQ did a Doji, at least providing a little warning that the upper resistance area may still be relevant. Today's lower trading confirms a major change of investor sentiment at that level. The NASDAQ is currently trading back below the T line, as well as the transportation index. The short positions are working extremely well. … [Read More...]