The Dow has moved back to the T-line after yesterday's bearish Harami. The NASDAQ continues to selloff, trading below the T-line Today, after yesterday's hanging man/gap down. Continue to close long positions that are not showing strength, the short positions are working well. The portfolio should be oriented toward the short side.
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Applying the candlestick logic to market trend analysis allows candlestick investors to have the appropriate positioning in their portfolio/trading. This is true for trading stocks, currencies, commodities, any trading entity that involves fear and greed, which is everything. Join us this Saturday, April 24 for a mini spotlight training on the logic incorporated into candlestick analysis that constantly puts the probabilities in your favor. Click here for more information.
Sector rotation is still the predominant factor in this current market uptrend. Note that the Dow, when it consolidates, still has not been able to close back below the T line. The NASDAQ, however, after a dragonfly Doji/hanging man signal on Friday gapped down today indicating a much stronger selling pressure. This would indicate Dow related stocks will maintain uptrends while the NASDAQ related stocks might show some more profit-taking/selling. The analysis of individual trades is greatly enhanced by knowing the overall market nature. You dramatically improve the probabilities of being in the correct trade direction when using candlestick signals to evaluate which stock/sectors have the greatest upside or downside potential.
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Friday's dragonfly Doji/hanging man signal in the NASDAQ provided a little warning to watch for profit-taking on a weaker open today. The transportation index was remaining above the T line but with Doji type days, this provided a little bit of warning to watch for a potential reversal. Obviously, today short recommendations are working well. The top be conditions of the market indexes was making having both long and short positions in the portfolio a viable strategy. Any long positions that appeared to be showing weakness should be closed at the end of the day.
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Candlestick signals produce an extremely high probability result. This is based upon observations and application by the Japanese rice traders over the centuries. Join us Saturday, April 24 for a mini spotlight training on the basics of candlesticks. This information will produce a new perspective on how to identify the changes of price trends. Wouldn't you like to be able to identify high profit trade potentials on a consistent basis? Join us this Saturday. You will get much more information than you anticipate. Click here for more information.
The market trend is easily assessed knowing what each candlestick signal and pattern illustrate. This allows the candlestick investor to be positioned in the right trades at the right time. Currently, the uptrending indexes remain above the T-line, producing strong probabilities the uptrend remains in progress. This evaluation remains in place until witnessing a strong candlestick sell signal. Knowing there is not any major change in the current trend allows for taking advantage of the high profit candlestick pattern breakouts that produce big trade results. Knowing the 12 major signals produces a huge analytical advantage, whether using candlestick analysis as your primary trading method or applying it to any trading method that you are currently using. It will dramatically improve your analytical capabilities. … [Read More...]
The market trend analysis remains consistent with the past four weeks. The Dow is trading higher Today, the NASDAQ is trading lower, but both indexes continue to trade above the T line. Gold continues to trade higher making gold stocks continuing an uptrend. Today might be a lethargic trading day, a Friday. Continue to use the T line as your trend indicator.
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April 20th Daily Market Comments
The Dow has moved back to the T-line after yesterday's bearish Harami. The NASDAQ continues to selloff, trading below the T-line Today, after yesterday's hanging man/gap down. Continue to close long positions that are not showing strength, the short positions are working well. The portfolio should be oriented toward the short side. … [Read More...]