A Doji in the oversold condition, a good distance away from the T-line, is a high probability reversal signal on positive trading the next day. That is currently what is occurring. However, bullish confirmation still requires a strong candlestick formation today, a close near the top end of the trading range. Week signals, closing at the lower end of the trading range, produces the potential of a sideways consolidation for the next few days, waiting for the T line to come down closer to the trading range. Downtrend in stocks, especially the biotech’s, require confirmed reversal signals before covering short positions.
Archives for January 2016
Stock Market is Closed
The New York Stock Exchange (NYSE) is open Monday through Friday, 9:30 a.m. to 4:00 p.m. EST. It closes for official U.S. holidays or if there is some sort of a major disturbance. The majority of U.S. exchanges follow the NYSE’s schedule, however.
For more information on when the stock market is closed please review the below dates for 2016. You should also note when the stock market is closed early and not for the entire day.
Stock Trading Holidays: 2016
- New Year’s Day – January 1
- Martin Luther King, Jr. Day – January 18
- Washington’s Birthday – February 15
- Good Friday – March 25
- Memorial Day – May 30
- Independence Day – July 4
- Labor Day – September 5
- Thanksgiving Day – November 24 *Please note: Stock market is closed early at 1:00 PM ET on Friday, November 25, 2016.
- Christmas Day- December 25 (Observed December 26) *Please Note: Stock market is closed early at 1:00 PM ET on Thursday, December 26, 2016.
In addition to U.S. official holidays, the NYSE does shut down under a variety of conditions, including national emergencies and/or inclement weather. Some examples of this include power outages, hurricanes, and computer failures, which have caused the NYSE to close without warning.
When the stock market is not closed you can read our blog here at Candlestick Forum. Here you will see the Market Direction on any given day to assist you in your stock trading decisions. Just be sure to mark the holidays listed above for 2016 so that you are prepared for when the stock market is closed.
Interested in additional training at no cost to you? In addition to training utilizing Candlestick Analysis, Stephen Bigalow offers weekly free education to all subscribers as well as additional education for paid members. We realize that there are a variety of trading tactics that can be a helpful part of your trading arsenal, so Stephen invites highly respected members of the trading community to provide additional training to his list of loyal subscribers. Please view The Candlestick Forum Events Calendar to see what is available in the weeks to come.
A little about Stephen….
Stephen W. Bigalow possesses over twenty-five years of investment experience, including eight years as a stockbroker with major Wall Street firms: Kidder Peabody & Company, Cowen & Company and Oppenheimer & Company. This was followed by fifteen years of commodity trading, overlapped with twelve years of real estate investing. He holds a business and economics degree from Cornell University, and has lectured at Cornell and at many private educational investment functions over the past twenty years.
Mr. Bigalow has advised professional traders, money managers, mutual funds and hedge funds, and is recognized by many in the trading community as the “professional’s professional.” He is an affiliate of the “Market Technicians Association”. (mta.org – A non-profit association of professional technical analysts) and a member of AAPTA, the American Association of Professional Technical Analysts. (aapta.us)
We hope that this information was helpful to you and hope that you will visit us periodically for assistance in trading the markets.
Happy investing!
Stephen Bigalow and The Candlestick Forum Team
January 11th Daily Market Comments
The trend is your friend. Although this may sound simplistic, it can be much better applied when watching the candlestick charts. Simply stated, the downtrend remains in progress until you see a candlestick reversal signal and a close above the T-line. The early positive trading is not unusual in a downtrend, just as early selling in the day usually occurs an uptrend, followed by buying in the afternoon. Stay short with any long positions continuing to show very compelling reasons to stay long.
January 8th Daily Market Comments
Trend Analysis
Why do so many investors and traders continue to fail to let their profits run and cut their losses short?
The answer is clear…They have not learned the market-beating secrets of Trend Analysis!
Some of the most successful investors in history have used simple trend trading to make fortunes in the markets. The trend is your friend and trend analysis should be a crucial tool in your trading arsenal.
Trend analysis attempts to predict the future movement of a stock based on historical data with the underlying assumption that what happens in the past gives traders an idea of what will happen in the future.
In technical analysis, it is the movement of the highs and lows that establishes a trend. For instance, an uptrend is classified as a series of higher highs and higher lows, while a downtrend is as series of lower lows and lower highs.
Of course it’s essential that you do it correctly and I can show you how to do that. I’ve created a simple and free 7-minute video training called “Identifying Profit Making Opportunities with Trend Analysis.”
On this short but highly informative video, you will discover the following trend analysis secrets…
- How to combine trend analysis with candlestick patterns to nail every single market reversal again
- How to maximize your probabilities of successful trades…forever
- How to use trend analysis to manage your portfolio for big gains and small losses
- A trend analysis rule you have probably never heard of before to eliminate false signals
- A dirt simple trading strategy that will greatly improve your trade probabilities
- And much more…
It is essential that you understand and are able to identify trends so you can trade with rather than against them. If you want to learn how you can gain huge advantages over all the other investors in the market, then watch this video. Learn how you can combine simple candlestick analysis with trend analysis and never be shaken out of a great trade again.
We hope that you enjoy the video and that you will read more of my blogs for educational purposes as well as read my daily market comments to help you maneuver your way through the markets.
Thank you for reading and Happy Investing!
Stephen Bigalow and The Candlestick Forum Team
P.S. Stephen Bigalow offers weekly free education to all subscribers as well as additional education for paid members. Candlestick Forum realizes that there are a variety of trading tactics that can be a helpful part of your trading arsenal, so Stephen invites highly respected members of the training community to provide additional training to his list of loyal subscribers. Please view The Candlestick Forum Events Calendar to see what is available in the weeks to come.
Stephen W. Bigalow possesses over twenty-five years of investment experience, including eight years as a stockbroker with major Wall Street firms: Kidder Peabody & Company, Cowen & Company and Oppenheimer & Company. This was followed by fifteen years of commodity trading, overlapped with twelve years of real estate investing. He holds a business and economics degree from Cornell University, and has lectured at Cornell and at many private educational investment functions over the past twenty years.
Mr. Bigalow has advised professional traders, money managers, mutual funds and hedge funds, and is recognized by many in the trading community as the “professional’s professional.” He is an affiliate of the “Market Technicians Association”. (mta.org – A non-profit association of professional technical analysts) and a member of AAPTA, the American Association of Professional Technical Analysts. (aapta.us)
Read about us for more information about Stephen Bigalow and The Candlestick Forum Team.
January 5th Daily Market Comments
The markets are now selling off after their initial bullish bounce this morning. The current downtrend will remain in progress until there is a definite reversal signal confirmed, continuing to make the bottom of the trend channel the hovering area. These market conditions are not any different than what has been experienced over the past three months. The portfolio strategy remains the same, have both long and short positions in the portfolio.
January 4th Daily Market Directions
The rule of thumb is that the markets will usually give you an indication of what investor sentiment will be for the year, at least for the first quarter, based upon the market action of the first few days. We may be seeing an anomaly today because of the knee-jerk reaction to what is occurring in the Chinese markets.
January 13th Daily Market Comments
Although the market indexes started trading positive today after yesterday’s Morning Star signal, the strength of the bullish trading is very tentative. This would imply at best a bounce back up to the T-line. The more indecisive the bullish trading, the higher the prospects the market is merely bouncing, be prepared for more downside. A true reversal requires good bullish strength.