and The Candlestick Forum
Nothing has changed, the market uptrend remains consistent. The indexes have the potential of breaking out into a new wave three, providing the prospects of another strong uptrending rally. These market conditions allow for just maintaining uptrending stocks, steady eddies, that remain above the T-line.
The markets are trading relatively flat. However, the candlestick formations illustrate buying from where the markets opened today. This may not demonstrate any powerful bullish strength, but it does reveal there is not any confirmed selling. The T-line continues to play a critical factor in both the trend of the indexes and current uptrending stocks. Stay predominantly long until there is evidence of a compelling reversal signal in the markets.
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Chart for CACI
Over the next 13 weeks, CACI International Inc. has on average historically risen by 4.7% based on the past 32 years of stock performance.
CACI International Inc. has risen higher by an average 4.7% in 18 of those 32 years over the subsequent 13 week period,corresponding to a historical probability of 56%
The holding period that leads to the greatest annualized return for CACI International Inc., based on historical prices, is 4 weeks. Should CACI International Inc. stock move in the future similarly to its average historical movement over this duration, an annualized return of 39% could result.
Chart for CRS
Over the next 13 weeks, Carpenter Technology Corp. has on average historically risen by 7.9% based on the past 29 years of stock performance.
Carpenter Technology Corp. has risen higher by an average 7.9% in 19 of those 29 years over the subsequent 13 week period,corresponding to a historical probability of 65%
The holding period that leads to the greatest annualized return for Carpenter Technology Corp., based on historical prices, is 1 week. Should Carpenter Technology Corp. stock move in the future similarly to its average historical movement over this duration, an annualized return of 97% could result.
Chart for IDXX
Over the next 13 weeks, IDEXX Laboratories, Inc. has on average historically risen by 9.1% based on the past 25 years of stock performance.
IDEXX Laboratories, Inc. has risen higher by an average 9.1% in 19 of those 25 years over the subsequent 13 week period,corresponding to a historical probability of 76%
The holding period that leads to the greatest annualized return for IDEXX Laboratories, Inc., based on historical prices, is 1 week. Should IDEXX Laboratories, Inc. stock move in the future similarly to its average historical movement over this duration, an annualized return of 142% could result.
Chart for MJN
Over the next 13 weeks, Mead Johnson has on average historically risen by 13.1% based on the past 7 years of stock performance.
Mead Johnson has risen higher by an average 13.1% in 6 of those 7 years over the subsequent 13 week period,corresponding to a historical probability of 85%
The holding period that leads to the greatest annualized return for Mead Johnson, based on historical prices, is 3 weeks. Should Mead Johnson stock move in the future similarly to its average historical movement over this duration, an annualized return of 80% could result.
Chart for SXI
Over the next 13 weeks, Standex International Corp. has on average historically risen by 4.5% based on the past 29 years of stock performance.
Standex International Corp. has risen higher by an average 4.5% in 18 of those 29 years over the subsequent 13 week period,corresponding to a historical probability of 62%
The holding period that leads to the greatest annualized return for Standex International Corp., based on historical prices, is 1 week. Should Standex International Corp. stock move in the future similarly to its average historical movement over this duration, an annualized return of 110% could result.
Chart for X
Over the next 13 weeks, US Steel has on average historically risen by 8.7% based on the past 25 years of stock performance.
US Steel has risen higher by an average 8.7% in 11 of those 25 years over the subsequent 13 week period,corresponding to a historical probability of 44%
The holding period that leads to the greatest annualized return for US Steel, based on historical prices, is 1 week. Should US Steel stock move in the future similarly to its average historical movement over this duration, an annualized return of 113% could result.
The appearance of indecisive trading in the indexes over the past few days provided important information. Support levels/trend channels had not been breached. The T-line was still fairly close to the trading range. Today’s positive trading has brought the Dow, S&P 500, and the NASDAQ back up above the T-line area with significant strength. As long as the market indexes do not demonstrate a severe selling reversal today, the slow uptrend is still the main trend assessment. Continue to utilize the candlestick charts to indicate which sectors remain the strongest.
The lack of decisive direction in the market indexes continues to allow good candlestick chart patterns to progress. The markets remain very sector specific. Gold stocks acting well today. LABU is currently nudging the upper resistance level. NVRO has shown strong confirmation of a J-hook pattern. As long as the indexes demonstrate that there is no change of investor sentiment, the sideways/slow uptrend of the markets remain in progress.
Click here to learn more about 12 Major Candlestick Patterns:
A downtrend usually consists of buying in the morning and selling in the afternoon. Today’s positive trading has diminished greatly. It will be important to see if there is any strength in the markets going into the close today. If so, it would illustrate a lack of direction/force of investor sentiment, implying the sideways or slow uptrend of the market had not changed. The mixed direction of the overall market is illustrated by just as many positive trading charts as bearish trading charts. This is making the markets very sector/stock specific.
Chart for AAPL
Over the next 13 weeks, Apple has on average historically risen by 10.6% based on the past 33 years of stock performance.
Apple has risen higher by an average 10.6%in 20 of those 33 years over the subsequent 13 week period, corresponding to a historical probability of 60%
The holding period that leads to the greatest annualized return for Apple, based on historical prices, is 2 weeks. Should Apple stock move in the future similarly to its average historical movement over this duration, an annualized return of 56% could result.
Chart for AIRM
Over the next 13 weeks, Air Methods Corp. has on average historically risen by 4% based on the past 29 years of stock performance.
Air Methods Corp. has risen higher by an average 4%in 14 of those 29 years over the subsequent 13 week period, corresponding to a historical probability of 48%
The holding period that leads to the greatest annualized return for Air Methods Corp., based on historical prices, is 1 week. Should Air Methods Corp. stock move in the future similarly to its average historical movement over this duration, an annualized return of 69% could result.
Chart for AVY
Over the next 13 weeks, Avery Dennison has on average historically risen by 7.8% based on the past 33 years of stock performance.
Avery Dennison has risen higher by an average 7.8%in 24 of those 33 years over the subsequent 13 week period, corresponding to a historical probability of 72%
The holding period that leads to the greatest annualized return for Avery Dennison, based on historical prices, is 1 week. Should Avery Dennison stock move in the future similarly to its average historical movement over this duration, an annualized return of 123% could result.
Chart for MMYT
Over the next 13 weeks, MakeMyTrip Limited has on average historically fallen by 6.3% based on the past 6 years of stock performance.
MakeMyTrip Limited has fallen lower by an average 6.3%in 5 of those 6 years over the subsequent 13 week period, corresponding to a historical probability of 83%
The holding period that leads to the greatest annualized return for MakeMyTrip Limited, based on historical prices, is 1 week. Should MakeMyTrip Limited stock move in the future similarly to its average historical movement over this duration, an annualized return of 126% could result.
Chart for SATS
Over the next 13 weeks, EchoStar Corporation has on average historically risen by 8.2% based on the past 9 years of stock performance.
EchoStar Corporation has risen higher by an average 8.2%in 6 of those 9 years over the subsequent 13 week period, corresponding to a historical probability of 66%
The holding period that leads to the greatest annualized return for EchoStar Corporation, based on historical prices, is 1 week. Should EchoStar Corporation stock move in the future similarly to its average historical movement over this duration, an annualized return of 234% could result.
Chart for SLAB
Over the next 13 weeks, SILICON LABORATORIES IN has on average historically risen by 4.4% based on the past 16 years of stock performance.
SILICON LABORATORIES IN has risen higher by an average 4.4%in 8 of those 16 years over the subsequent 13 week period, corresponding to a historical probability of 50%
The holding period that leads to the greatest annualized return for SILICON LABORATORIES IN, based on historical prices, is 1 week. Should SILICON LABORATORIES IN stock move in the future similarly to its average historical movement over this duration, an annualized return of 131% could result.
February 8th, Daily Market Comments
Currently the market indexes are not showing any buying or selling pressure that would not be normal for a slow uptrending market. A solid uptrend usually consists of selling in the morning and buying later in the day. Gold stocks still remain extremely strong. There appears to be as many stocks trading higher as trading lower, indicating there has not yet been any major change of investor sentiment. Stay predominantly long.