Archives for September 2020

September 24th Daily Market Comments

Today’s positive trading does not indicate any major change of investor sentiment in the markets. The indexes may be starting to base but as long as the indexes continue to trade below the T-line, the downtrend has to be assumed to still be in progress. Maintain short positions but there are long positions that continue to trade above the T-line. This is still a market environment to have both long and short positions in place.

 

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09/24/2020 Stock Chat with Stephen Bigalow

In order 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 09/24/20

 

At the end of the webinar, Steve announced his upcoming “Fight the Fear: Eliminating Emotions” event, which he’ll present on Saturday, September 26th.

This 4-hour training workshop will provide you with visual perspectives that will improve your investing for the rest of your life.

Click here for more information.

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September 24th Market Wrap-Up

One of the most powerful trend indicators is the T-line, a natural support and resistance level of human nature. Add that to the graphics of candlestick signals and patterns which are the graphic depiction of investor sentiment, you have created an extremely accurate trend indicator combination. The mental process is very simple. If you see the market indexes closing below the T-line, the mental strategy should now be oriented toward closing out long positions that are showing weakness and establishing short positions. This process allows you to consistently be in correlation with the overall trend of the market, putting the probabilities in your favor.

There will be stocks that go up in a down market but obviously there will be more bearish opportunities with more strength in a down trending market. The same is obviously true in an uptrend, the uptrending stocks are likely to have much more strength. Identifying positions to start shorting is a very simple visual process with candlestick analysis. Signals, followed by a gap down’s, are very high probability short trades. Add the additional confirmation of a gap down in price closing below the T line produces additional confirmation the bears are definitely in control. Having the ability to recognize the direction of a price trend with a high degree of accuracy allows investors to keep their emotions out of their trading decisions. Join us this Saturday, September 26 for a full day of applying candlestick logic and information into your analysis that eliminates emotional decision-making. The effectiveness of any trading strategy is the combination of applying the mechanics of the trade and having the correct mental status to trade successfully. You will dramatically improve your trading abilities and profitability with this combination. www.stephenbigalow.com/fight-the-fear

 

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

Good investing,

The Candlestick Forum team

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September 23rd Daily Market Comments

The indecisive trading so far Today is reflective of the indexes still trading below the T-line. The downward pressure remains in progress with the indexes trading below the T-line, which diminishes the strength of bullish sentiment. This continues to make a market environment where analyzing specific stock/sectors remains the top analytical factor. Maintain positions that continue to remain above or below the T line, on both long and short positions.

 

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September 22nd Daily Market Comments

The T-line rule is still in effect, the downtrend in the indexes will continue as long as the indexes are trading below the T-line. There are a good number of stocks still trading bullish but it is prudent to have a good number of positions short in the portfolio. The downtrend will continue until there is a strong reversal signal in the indexes. Stay oriented toward the short side. Any long positions should have compelling reasons to stay long.

 

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September 21st Market Direction

The buildup of investor sentiment in specific candlestick patterns has the probability of producing bullish trade profitability even when the overall market is selling off hard. Our recommendation on CLSK a set up for a frypan bottom pattern. It traded up 28% on the day. The candlestick investor has the advantage of having positions in the portfolio that are still going to produce profits or at least not selloff dramatically when the overall market is selling off.

Two notable candlestick factors are being illustrated today. First, the T line rule! As the indexes were demonstrating, when trading below the T line, the probabilities of the down trend is extremely strong. Although the Dow appeared to be supporting at the 50 day moving average on Friday, it did not do any candlestick formation that illustrated the bulls were back in control. The NASDAQ and the S&P 500 did not show any evidence of bullish sentiment on Friday, trading below the T line, indicating more downside. Secondly, numerous recent recommendations, that were based upon candlestick patterns, are holding up well, either trading positive, CLSK, VVPR, SHLL, ZM or trading relatively flat today PEIX,WKHS,APPS. This demonstrates an underlying benefit of trading pattern. It allows for more time to get out of a trade reasonably well even though the overall market is dropping heavily.

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team.

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September 21st Daily Market Comments

Two notable candlestick factors are being illustrated today. First, the T-line rule! As the indexes were demonstrating, when trading below the T-line, the probabilities of the down trend is extremely strong. Although the Dow appeared to be supporting at the 50 day moving average on Friday, it did not do any candlestick formation that illustrated the bulls were back in control.

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Weekly Watch List September 21st – September 25th

The selling brought the indexes back down below the T-line. The T-line rule makes the probabilities of trading lower in the near term highly probable. Although the Dow supported off the 50 day moving average on Friday, the NASDAQ and the S&P 500 traded lower, forming potential bearish J-hook patterns. Unless the indexes show strength from these levels, the markets could be trading lower. This is where you want to have both long and short positions in the portfolio. Fry pan bottom patterns have been producing strong profits during this sideways movement of the market for the past two weeks. Strength is being shown in the diagnostic substance sector, QDEL, INO, FLGT, KIN, CRDF. The medical instrument sector is also showing good strength, VVPR, FLDM, KODK, OSUR, REKR. Short positions can be established in the restaurant sector, DIN, ARMK, BLMN. Long positions can be maintained as long as they continue to trade above the T-line and any weakness in the markets should instigate more short positions established.

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September 18th Daily Market Comments

The market indexes continue to show the lack of any direction. However, the fry pan bottom patterns and the fry pan bottom breakouts are working very nicely i.e.PEIX, MAXR. Maintain the positions that continue to show confirmation above or below the T-line. The market indexes appear to not have any strength in direction one way or the other. This obviously makes the analysis of each individual stock chart the top priority.

 

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09/17/2020 Stock Chat with Eric Wilkinson

In order 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 09/17/20

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