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.

 

Big Trades Easy to Identify

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

July 26th Daily Market Comments

The Monday morning consolidation is still allowing the strong signals/patterns to perform i.e. ORMP confirming the bullish trend kicker signal. The indexes continue to trade above the T line indicated the probabilities for a continued uptrend to continue. Stay long in positions that remain above the T-line.

 

July 23rd Daily Market Comments

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.

 

July 22nd 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 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!

Strong Candlestick Market Reversal

The reversal signals in the Dow and NASDAQ quickly indicated the selloff of the previous week was merely profit-taking versus an overall market trend reversal. Additionally, with the indexes trading back up above the T line, not only indicates the uptrend is still in progress but it creates a market environment producing good investor bullish sentiment. This makes for taking advantage of big breakout moves. When there is no fear factor in the overall market, investor sentiment will move breakout prices with much greater enthusiasm.https://youtu.be/LEoFmJ7ZWzM

Numerous stocks that were good shorts last week have now shown strong reversals. The candlestick investor has a great visual advantage of seeing when a price move has reversed, enhanced with where price move reversals are occurring. Numerous stocks showed strong candlestick buy signals right on major moving averages, acting as support levels. This provides much stronger probabilities of being in the right place at the right time.

 

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

Good investing,

The Candlestick Forum team

July 22nd Daily Market Comments

The expected profit-taking today is not showing any real downward pressure on the market indexes. Investor confidence is building back up. This is seen in some of the big breakout moves, especially seen in the co-vid related stocks. Apparently the new cocktail mixes are getting a lot of attention. The uptrend should be in progress as long as the indexes remain above the T line.

 

July 21st Daily Market Comments

Be careful the bounce! Although the indexes are trading positive Today, stochastics are still in a downward direction in the indexes are below the T line. There was sentiment damage done over the past few days in the markets. It would take bullish confirmation of getting the indexes back up above the T-line to have bullish confidence built back up. Continue to use the T line as your ultimate criteria.

July 20th Daily Market Comments

Be careful the bounce! Although the indexes are trading positive today, stochastics are still in a downward direction in the indexes are below the T line. There was sentiment damage done over the past few days in the markets. It would take bullish confirmation of getting the indexes back up above the T line to have bullish confidence built back up.

July 19th Market Direction

The reversal signals last week were very apparent. The Dow started showing indecisive trading signals finally confirmed with a close below the T line. Bearish confirmation was also evident with the NASDAQ and the S&P 500 showing sell signals and already trading below the T line. This is not rocket science! These signals allow candlestick investors to start orienting their portfolio from the long side more towards the short side. The NASDAQ is likely to have more downside until it reaches the 50-day moving average. This would imply staying short until you see a level where bullish signals should appear.

Bullish candles are showing back up in specific sectors such as the biotech stocks that are related to co-vid. The new strain is starting to take effect. This was easily identified by simple candlestick scanning techniques. We will be presenting a training session in the near future that identifies when it is time to start selling, with candlestick sell signals closing below the T line or heading for the T-line. Also, it will be easy to identify which signals have the strength to not only be selling but going short.

 

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team