Archives for February 2020

February 26th Daily Market Comments

The Dow has bounced up 400 points Today, the NASDAQ and the S&P 500 forming bullish Harami’s. This may be indicating the end of the selling if today’s trading closes as a bullish Harami in the indexes and they start trading positive tomorrow. However, the qualifying word is “if”.

 

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February 25th Daily Market Comments

No pics today. Why? When you see a huge move in the markets, what would be the expected result the next day? That is difficult to assess. There could be up bounce because of the overselling going into the close of the previous day. There could be panic selling continuing driving the price down.
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February 24th Market Direction

Today’s selling makes a candlestick analysis process very simple to identify. The uptrend remains in progress until you see a candlestick sell signal and a close below the T line. Thursday provided an indecisive Doji type day in the indexes. What was required to maintain the uptrend was positive trading. When the markets opened lower, that was an immediate sign that the bears were taking control. That was more confirmed with the indexes closing below the T line. This is an extremely high probability result using those simple parameters. Anytime you see a candlestick sell signal and a close below the T line, the prospects for the uptrend continuing is extremely low, the prospects for more downside is extremely strong. That visual analysis allows the candlestick investor to immediately start taking profits and closing out long positions that are showing weakness. Adding short positions becomes a much better trading strategy. This is based upon simple probabilities. Anytime a price move closes below the T line, the downward trend probabilities improved dramatically.

Bearish patterns can be easily recognized especially in sectors that are in the limelight. The China virus is implying the cruise lines are going to have much more difficulties making profits until the virus situation is resolved. Which cruise line stocks produced the best probable short positions? Simple candlestick patterns indicated which stocks in that sector has the strongest downside prospects. This is putting the stars in alignment! If you can see what the overall market trend is doing, candlestick scanning techniques can pinpoint which sectors have the highest probabilities of producing down trending moves. Using these simple techniques constantly puts your investment funds in the appropriate direction at the appropriate time.

 

 

We will conduct a “Members Only” chat session tonight at 8:00 pm EST.

Good Investing,

The Candlestick Forum Team

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February 21st Daily Market Comments

The direction of today’s trading was easily anticipated by the formation of a Doji tape day yesterday. The Dow had come back up toward the top end of the trading range forming a Doji type day but it still closed below the T-line. It needed to open positive and trade positive to confirm that the T-line was still acting as a bullish support.

 

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February 20th Daily Market Comments

The markets still do not demonstrate any selling pressure. Today’s lower open, the Dow opening right on the T-line, appear to be normal morning profit-taking. Nothing has changed the trend sentiment. Candlestick patterns are still producing good profits, i.e. the fry pan bottom.

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February 20th Daily Market Comments

The markets still do not demonstrate any selling pressure. Today’s lower open, the Dow opening right on the T-line, appear to be normal morning profit-taking. Nothing has changed the trend sentiment. Candlestick patterns are still producing good profits, i.e. the fry pan bottom. Today’s recommendation on a potential wedge breakout of CNSL is up 32% so far Today.

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February 20th Market Wrap-Up

The markets traded lower Today on more China virus scare rhetoric. Is this the end of the uptrend? Based upon candlestick analysis, the church reveal a much different perspective as far as Today’s selling. After the Dow was down approximate 375 points it finished down 122 points is this bearish? The candlestick formation was somewhat of a Doji type day. The Dow did close below the T-line but forming an indecisive trading day. Add the analysis of the S&P 500 and the NASDAQ, there indecisive trading day continue to show a close above the T-line. This overall analysis indicates there has not been any major change of investor sentiment. The nature of the current uptrend can be characterized much better based upon the visual aspects of candlestick signals. The uptrend remains in progress as long as the indexes continue to trade above the T-line. The nature of the uptrend is revealing a very choppy movement. That is what makes the T-line a very informative indicator. The probabilities indicate the uptrend is still in progress when the indexes cannot close below the T-line. This allows the candlestick investor to have a much more precise analysis of the overall trend and does not allow themselves to be whipsawed in and out of positions.

Patterns provide relevant trend analysis confirmation. The T-line is also very applicable to analyzing what is occurring in a candlestick price pattern. Note that numerous fry pan bottom patterns have remained in an uptrend in spite of what the overall market movement is portraying. This factor can be easily explained. A fry pan bottom is a buildup of investor sentiment over a period of time. It will not be readily influenced by other factors such as the oscillation movements of the overall markets. Knowing this, I candlestick investor can be much more comfortable maintaining fry pan bottom positions no matter what direction the market is going. As long as the uptrend remains above the T-line, even on scary pullback days, the T-line shows the fry pan bottom trajectory is still in progress. The common sense analysis that can be incorporated into candlestick signals and patterns allow an investor to much more clearly understand what is going on in investor sentiment versus being emotionally whipsawed when prices oscillate but do not breach the probabilities of candlestick trend indicators. This is what dramatically reduces emotional decision-making when it comes to investing.

Chat session tonight at 8 PM ET with Guest Speaker Kirt Christensen. Click here to register.

Good Investing,

The Candlestick Forum Team

 

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February 18th Market Direction

Although the Dow was down 165 points today, simple candlestick analysis reveals there was not any major change of investor sentiment. Visually evaluating the NASDAQ shows that although it basically closed flat on the day, it was after it had opened lower, revealing bullish sentiment after it opened. The S&P 500 close lower but after a Doji formation, showing indecisive selling, as well as the T line continue to act as a support level. Taking all three of the indexes into account, the overall evaluation indicates there is no major change of investor sentiment. Additionally, numerous stocks traded positive on the day. The big-name stocks such as AMZN, TSLA, NFLX , BYND, traded positive, once again indicating there was no selling consensus in the overall market trend.

Candlestick patterns continue to show good profitability even in the throes of a indecisive up trending market. The fry pan bottom has produced consistent profitability in a number of our current recommendations, RAD, ITCI , REGI and ZS. ZS produced a very recognizable breakout, a Doji sandwich breaking out through the 200 day moving average, confirming the fry pan bottom breakout.SPCE produced parabolic profits, the same pattern illustrated in TSLA two weeks ago. Knowing what to expect from a pattern puts investors in the correct trades at the correct time. Knowing what investor sentiment does on a repeated basis allows the candlestick investor to take profits at the optimal points, as illustrated in SPCE today. Being mentally prepared for what human nature produces as price patterns, the candlestick investor gains huge advantages of knowing exactly when to be buying and when to be selling with a high degree of probability. This dramatically reduces emotional decision-making when it comes to investment decisions.

We will conduct a “Members Only” chat session tonight at 8:00 pm EST.

Good Investing,

The Candlestick Forum Team

 

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February 18th Daily Market Comments

The Dow is the weakest index, trading back below the T-line. The NASDAQ trading lower but above where it opened, indicating the lack of any corroborating mass selling pressure. The S&P 500 trading lower but  an indecisive day. This indicates the lack of any major change of investor sentiment, confirming the prognosis of the slow uptrend of the overall market but with a daily choppy manner.

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02/20/2020 Stock Chat with Kirt Christensen

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 02/20/20

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