Archives for May 2020

Weekly Watch list June 1st – June 5th, 2020

Identifying and utilizing candlestick patterns produce two major advantages for investors. A candlestick pattern creates an extremely high probability of being in a trade moving in the correct direction and the magnitude of the move will be much greater than a mere up trending price during an up trending market. There are numerous J-hook patterns setting up heading into this coming week. Simple scanning techniques allows the candlestick investor to identify the J Hook pattern which has much better prospects of not only producing a profitable trade, but a much more profitable trades than merely up trending stocks during a slow up trending market.

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06/04/2020 Stock Chat with Stephen Bigalow

To Download recorded sessions;

To download click on the link below, once on the video page you will right-click on the video then hit “Save video as” to save to your files.

Stock Chat – Thursday 06/04/20

At the end of the webinar Steve announced his upcoming Spotlight Session on Identifying Breakouts, which he’ll present on Saturday, June 6th.  

You’ll experience a comprehensive 1-hour immersion on recognizing technical levels that create high probability breakout prospects. 

 Click here for more information.

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May 29th Daily Market Comments

Yesterday’s dark cloud that formed in the Dow is confirming with the lower trading Today. If the Dow closes near the lower end of Today’s trading range, expect a pullback to head back down to the T-line. If Today’s trading in the Dow closes near the high end of the trading range, staying above the 3T-line, the slow uptrend is likely to continue going into next week. The NASDAQ trading lower but not with enough strength to bring it down through the T-line. Expect this to be a profit-taking/consolidation day.

 

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May 28th Market Wrap-Up

The indexes produced some potential candlestick sell signals today. The Dow formed a Dark Cloud signal in the overbought condition. However, it is still trading an uptrend above the 3T line, let alone the T line. This implies there might be some profit-taking pullback but not necessarily a full-scale reversal. The NASDAQ, after forming a Hanging Man type signal yesterday, formed a Shooting Star Doji today. This makes the premarket futures a valuable insight into whether there’s going to be some profit-taking over the next few days. A lower open would imply profit-taking tomorrow. This allows the candlestick investor to make a much more accurate assessment as to whether to take profits in long positions and add a few short positions to the portfolio. Numerous bullish positions showed indecisive/bearish potential signals today. The position cultivation process becomes simple when witnessing potential sell signals in overbought conditions. This allows for candlestick investors to take some profits in the higher risk positions that already have produce good profits and move those funds, either to short positions or long positions that are just now showing bullish signals in the oversold condition. This improves the probabilities for producing better profit potential, with less risk.

Our positioning yesterday in TGI was based upon seeing a Fry Pan Bottom breakout going into earnings. Simple logic, candlestick analysis is the graphic depiction of everybody buying and selling during a specific time frame. If there is strong buying going into the close just before an earnings report, logic implies that people, that know what is going to occur in the company’s earnings, are buying. The probabilities will put you in the right position at the right time. The candlestick patterns continue to work well, Fry Pan bottom’s continue to show good profitability

 

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

Good investing,

The Candlestick Forum team.

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May 28th Daily Market Comments

Although the Dow opened much higher and immediately sold off, it was evident based upon the 10-minute chart that the buying was still in progress. The NASDAQ open slightly lower but immediately started trading higher. There still is not any evidence of very sentiment coming into this trend. Stay long. Numerous patterns are working extremely well. TGI frypan bottom breakout going into earnings provided good evidence that people in the know were expecting good earnings results.NBR fry pan bottom producing an uptrend with the expectation of filling the gap at $52. Utilizing the patterns during an uptrend produces much better profits than holding slow up-trending stock prices during a slow up-trending market.

 

 

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May 27th Daily Market Comments

Funds are shifting. The text are selling off but are recommendations in the regional airlines and the specialty retailers are producing good profits. The Dow is trading positive, although below where it opened and the NASDAQ is trading lower. The nature of the market remains the same, a slow uptrend overall but with day to day oscillation.

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May 26th Market Direction

Investor sentiment is looking for good news! That can be seen in the candlestick charts revealing a steady uptrend in the overall markets with good strength exhibited on good news days. Another announcement of a potential vaccine provides bullish sentiment, anticipating the virus debacle will soon be over. It can be assumed as long as the market indexes continue to trade above the T line and in the up trending channel’s, the uptrend will remain in progress. The longer the indexes continue to trade in a slow uptrend, the investor sentiment will change from expecting a retest of recent lows to anticipating if the markets can reach the high levels before the virus downtrend. Candlestick investors have the advantage of witnessing the strength of individual stocks based upon pattern breakouts. The breakouts become much more potent if the underlying market sentiment is not showing any bearish fears. Currently, the gap up in today’s trading produces better probabilities of the Dow heading for the 200 day moving average. This would imply a few more days of up-trending markets.

Crude oil prices continued to move higher. Having the ability to analyze a commodity provides additional evidence of a sector move. Oil stocks are continuing their up-trends. Simple visual analysis allows investors to participate in the strongest sectors, such as oil stocks as oil prices are recovering. The specialty retail sector has produced some very strong profits. Regional airlines showed good strength today with numerous best friend signal breakouts through resistance levels. Many stocks will move up during a slow up trending market. Knowing the strong bullish signals allows the candlestick investor to take advantage of the sectors/stocks that will show the most strength during an uptrend. Utilizing the T line in conjunction with candlestick signals provides a very high probability trend confirmation indicator. The strong profit combination is the identification of a strong candlestick bullish signal and then maintaining that position as long as it stays above the T line. This dramatically improves an investors profitability.

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team.

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May 26th Daily Market Comments

Warm weather, sunny days, makes everybody more confident. Although the NASDAQ has been showing consistent uptrending, Today the S&P 500 is showing the greatest strength, gapping up through the 200 day moving average. The prognosis remains the same, as long as the indexes continue to trade above the T-line and well into the up-trending channel, investor sentiment will continue in a bullish trend. The Dow gapped up after Friday’s Doji, a best friend signal, implying the next target will be the 200-day moving average.

 

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Weekly Watch list May 26th – May 29th, 2020

The markets are currently trading in a trading channel, the Dow and S&P 500 are trading sideways while the NASDAQ is still in a slow upward trading channel. This makes for very profitable trading for the candlestick investor. It allows for simple candlestick scanning techniques that pinpoint the strongest sectors. Then he sector can be scanned to find the strongest individual stock chart patterns. This is basically putting all the stars in alignment. Obviously, investor sentiment keeps getting stronger with the expectations that the virus lockdown is eventually going to be released, letting the US economy get back to the conditions prior to the virus. Numerous sectors are producing some very good profits. Crude oil has produced a strong upward price move, making the oil stocks sector a strong profit area. Biotech stocks continue to produce good profits. Specialty retailers are still moving up strong. This coming week, anticipate application software companies to produce powerful moves. The advantage of candlestick analysis is that it allows investors to have funds in stock/sectors that are going to produce high probability, high-profit trade setups.

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05/28/2020 Stock Chat with Vince Vora

To Download recorded sessions;

To download click on the link below, once on the video page you will right-click on the video then hit “Save video as” to save to your files.

Stock Chat – Thursday 05/28/20


At the end of the webinar Vince offered his “High Octane Options” program.

  • Learn how options trading can be far safer than just holding stocks
  • How volatility can be your friend in the options market
  • Why you don’t need complex math to find value in options 
  • How to trade AMZN, TSLA and GOOGL with small accounts
  • See how proper money management can take you from losing money to being a profitable trader
It’s an amazing program and one that’s sure to take your trading to the next level.
 
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