May 6th Daily Market Comments

The NASDAQ continues to trade lower while the Dow remains relatively flat. This has produced some excellent profits in short positions in the high tech area. The NASDAQ is currently hovering at the 50 day moving average. Mining stocks remain in good uptrends. The prognosis remains the same, have both long and short positions in the portfolio.

 

May 5th Daily Market Comments

Although the market indexes opened positive Today, there has not been any bullish conviction since the open. The market remains sector specific, steel stock and steel mining stocks remain strong, oil refineries and oil drilling company stocks continue to be strong. High tech is being sold off. Have both long and short positions in the portfolio.

 

May 4th Daily Market Comments

The NASDAQ, closing below the T line yesterday, was the strongest sell signal, continuing today. The Dow is still above the T line but the S&P 500 has gapped down below the T line.

May 3rd Market Direction

These market conditions are making having both long and short positions in the portfolio very profitable. The Dow is trading higher today while the NASDAQ was doing a bearish Doji sandwich, closing below the T line. Simple candlestick scans allow investors to find both excellent bullish positions and excellent bearish positions. The oil refining sector showed great strength today. Numerous stocks in that sector formed double Doji set up confirmation. Knowing that a sector is being bought across-the-board, candlestick investors have the advantage of identifying which stocks in that sector are showing the strongest bullish signals. That same analysis can be applied to the gold and silver sector. Gold and silver prices gapped up today. This has produced many strong signals in that sector. Utilize the strongest of those signals to establish trades. Having a set of our flashcards next to your screen makes identifying and learning candlestick signals and patterns much more easy and quickly.

 

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team

May 3rd Daily Market Comments

The T-line continues to act as a relevant trend indicator. All the indexes are trading above the T-line. The transportation index is showing good consistent strength. This implies there is no major selling occurring yet in the markets.

 

Weekly Watch List May 3rd – May 7th

Although the market indexes are in a sideways mode, there are still some good strong bullish sectors. However, it will be very important to see how the market indexes open on Monday. The NASDAQ, on a lower open, would be creating a Dagwood signal, an evening star signal followed by a bearish Doji sandwich, an evening sandwich. The biotech sector continues to act strong, with co-vid related stocks showing good strengthVIRX, VXRT, OCGN, FREQ, TBIO, AMTI. The medical supply sector also continues to show good bullish chart patterns CTSO, LLIT, ORGO, HEXO, MRVL, TRHC. Restaurant stocks are showing strength in RRGB, BJRI, TXRH, CHUY, OSR. Keep in mind, entering trades in strong sectors still requires witnessing strength in the overall market trend. Obviously, if the premarket futures are showing the markets are going to open much lower, you do not want to be jumping into bullish trades. We have been getting many inquiries about the Candlestick Forum flashcard sets.


The candlestick signal set and the candlestick pattern set each consist of approximately 50 flashcards. This “high-tech” product has gotten a lot of positive feedback. It allows investors to learn the signals and patterns very quickly. Try it, it will be helpful.

April 30th Daily Market Comments

The indecisive nature of the market remains in place. These market conditions make the analysis of each individual stock/sector the top criteria. The J-hook patterns have been working well. OCGN, DRNA. Use this as a process to close out long positions that are showing weakness. Have a few short positions in the portfolio.

 

April 29th 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 04/29/21

April 29th Market Wrap-Up

What creates the ultimate entry strategies for a trade? Knowing what the results should be after a candlestick signal or pattern. The J-hook patterns are currently producing very big profits in these market conditions. Candlestick pattern results provide two huge advantages! First, it is easy to identify the high probability direction. Second, the magnitude of the price move is usually excessive. Because human nature reacts the same way time after time, candlestick patterns show when investor sentiment is going to produce a high profit trade. Join us in our chat rooms. Fortunately, there are numerous candlestick traders that help identify the setups for a big trade potential. Every time a candlestick signal/pattern confirms, the probabilities of being in a profitable trade is extremely high.

The markets are in a sideways/slow upward mode. The uptrend remains in progress as long as the indexes continue to trade above the T line. However, this does not necessarily mean the market uptrend is going to be strong enough to rise all boats. Simple candlestick scanning techniques allow investors to have a constant supply of strong trade potentials.

 

 

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

Good investing,

The Candlestick Forum team

April 29th Daily Market Comments

The failure to hold any positive trading after the open reveals the lack of bullish sentiment, indicating a toppy action in the markets. Be ready to close out long positions that are not exhibiting strength going into the close today. Expect some profit-taking and also watch where the indexes close today in regards to the T line.