February 2nd, 2023 Stock Chat with Stephen Bigalow

o 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 02/02/23

At the end of the webinar, Steve announced his upcomingCommodity Trading with Candlestick Power Pattern Trades event, which he’ll present on Saturday, January 14th.
This half-day training workshop will provide you with visual perspectives that can improve your investing.

Click here for more information.

February 2nd Market Wrap-Up

When you understand candlestick psychology, you gain trading perspectives equivalent to somebody trading for 50 years. Candlestick psychology is merely common sense built into a graphic depiction. When do most people buy? They buy exuberantly at the top! When do most people sell? They panic sell at the bottom! This allows the candlestick investor to have common sense entry and exit strategies for maximizing profit potential. As illustrated in the CVNA chart today, a gap up in the overbought condition becomes an immediate alert to set profit-taking stocks at levels it should not come back down through, such as the open. If you have problems knowing when to enter a trade, exit a trade, or set your stops, everything built into a candlestick chart is pure common sense. It allows the candlestick investor to develop strategies to take profits or close out positions working on a common sense basis versus emotional trading decisions. Witnessing the NASDAQ and the S&P 500 gapping up in the overbought conditions today provided the alert to be prepared to start taking profits in individual stock charts that also gapped up in the overbought condition. Numerous stocks missed their earnings expectations today, adding to the probability the markets may be selling off after today’s gap up.

Chat session tonight at 8 PM ET. Click here to register.

Good Investing,

Stephen Bigalow

February 2nd Daily Market Comments

Again, although the Dow is trading lower and now coming back up, the other indexes are all trading strongly bullish. Stay long but be aware that today’s gap up in some of the indexes and stocks might be an alert for some profit-taking. Watch your 10 minute charts.

 

February 1st Daily Market Comments

The Dow has been trading lower but note that it has use the T line as a support level. The NASDAQ and the S&P 500 trading relatively flat and the transportation index is trading up strong. This implies that today’s Fed announcements, although already anticipated, is going to affect sectors differently.

 

January 31st Daily Market Comments

Although it is early in the day, today’s positive trading illustrates a lack of overall directional movement in the markets, likely waiting to see what the Fed reports this week. However, there are numerous small-cap Stock price movements working well.

 

January 30th Market Direction

Candlestick reversal signals appeared in today’s market trading. This is not unexpected with the markets in the overbought area at technical levels everybody else was watching. The Dow formed an evening star signal, one of the 12 major candlestick reversal signals. The S&P 500 began a bearish kicker-type signal. Although the NASDAQ did not form a candlestick reversal signal, one of the changes identified in our Candlestick training is when prices gapped down and close back below the open of the previous candle of an uptrend. There will be a high probability of selling continuing. This allows for quicker closings of bullish positions that are starting to show potential weakness/sell signals. This information provides the candlestick investor with immediate information and allows for better profit-taking. Everything built into candlestick charts is merely common sense put into a graphic depiction. When do you enter a trade? When do you exit a trade? This is information that is much more identified, knowing what signals and patterns investor sentiment produce time after time.

 

 

Chat session tonight at 8 PM ET. Click here to register.

Good Investing,

Stephen Bigalow

January 30th Daily Market Comments

Today the Dow is trading higher after a lower open but the NASDAQ and the S&P 500 gapped down and are currently trading at or below Friday’s open. This does not yet indicate any change of investor sentiment but it is likely illustrating the current uptrend may be a slow oscillating uptrend. Use the T line as your ultimate criteria. This makes each individual stock chart the top analytical criteria.

Weekly Watchlist January 30th – February 3rd, 2023

Candlestick patterns are the prevalent movers in this uptrend. The reoccurring pattern setup of human nature can easily identify candlestick patterns. The J-hook pattern has been identified in the NASDAQ and the S&P 500. Although the Dow did not form a reversal signal when it supported off the bottom of the wedge formation, the fact that the NASDAQ and the S&P 500 formed bullish signals added credence to the wedge formation support in the Dow. Candlestick patterns provide two huge benefits, a much more robust analysis of the trend, and the magnitude of the move will be much greater than mere up-trending stocks during an up-trending market. As illustrated in the AMZN chart, a belt holding a candlestick pattern enhanced the probabilities and visualization of the J-hook pattern. The solid initial price move of a J-hook pattern is the alert there is new strong investor sentiment coming into a trading entity. The J-hook portion is merely the profit-taking to be followed by another strong price move. The candlestick forum teaches investors how to identify the most prolific analysis of price moves, what human nature provides as high probability results. Join us Saturday, February 4th, for a Candlestick Forum mini spotlight training on how to trade commodities using candlestick signals.

January 27th Daily Market Comments

The market indexes are not showing any change of investor sentiment, the S&P 500 is continuing the bobble breakout, the NASDAQ is trying to push up through the 200 day moving average, and the Dow is continuing its uptrend in the wedge pattern. The trading strategy is very simple, stay in the bullish charts that are remaining above the T line, stay in the bearish charts staying below the T line

January 26th, 2023 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 01/26/23