Archives for May 2021

May 28th Daily Market Comments

The markets opened positive but are still trading at about the same level they opened, creating Doji type days. This indecisive trading is not unexpected the day before a long weekend.

Expect a lazy trading day, but as long as the indexes stay above the T-line, investor sentiment has not changed.

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May 27th Stock Chat with Stephen Bigalow

To Download recorded sessions;

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 – Saturday 05/27/21


At the end of the webinar, Steve announced his upcoming “Identifying Breakouts with Candlestick Logic” event, which he’ll present on Saturday, June 12th.

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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May 27th Market Wrap-Up

A slow up-trending market is very beneficial to a candlestick investor. It allows for high profit patterns to perform without bearish sentiment affecting the upside potential. Currently, numerous J-hook patterns are producing high probability/high profit trade set ups. As illustrated in AMC, the J-hook pattern clearly revealed strong bullish sentiment. This allowed traders in our chat room to produce big profits in options, based upon the expected result of a J-hook pattern. There are numerous J-hook pattern trades set ups in progress, DNMR, SAVA, BNGO, DASH. Fry pan bottom patterns are working well also, i.e. BBW.

The market indexes continue to trade above the T line. There is no exuberance in the slow steady uptrend. The electric vehicle sector is showing strong breakout signals. Continue to stay predominately long, utilizing the strong breakout signals and trend continuation as long as the indexes and individual stock charts remain above the T line. Have a few short positions in the portfolio, DLTR a dumpling top, the opposite of a fry pan bottom. Knowing what should result after candlestick signals and patterns allows the candlestick investor to constantly have investment funds in high probability trades.

Chat session tonight at 8 PM ET.  Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team

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May 27th Daily Market Comments

The trend analysis is simple, as long as the indexes continue to trade above the T-line, the uptrend remains in progress. However, stochastics are now climbing up toward the overbought condition. Stay long but be more attentive for watching for profit-taking.

 

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May 26th Daily Market Comments

Today’s lethargic trading in the indexes appear to be as lethargic as yesterday, but now in a slow upward direction again. The NASDAQ continues to produce the strongest steady uptrend. This obviously indicates the markets in a slow upward trend. Fortunately, this provides the opportunity to take advantage of the strong candlestick patterns.

 

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May 25th Daily Market Comments

Currently, a consolidation day in the markets, some profit-taking but not any major change of market direction. Doji sandwiches continue to work, trades staying above the T line, stay long.

 

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Easy Breakout Identification with Candlesticks

Combining strong candlestick signals at pattern breakouts allows the candlestick investor to dramatically improve being in big trades. The Doji sandwich has a very simple trading strategy. The Doji rule! A Doji, following a large candle, opening positive the next day produces a high probability of a Doji sandwich signal. Knowing the third day will be the same magnitude as the day prior to the Doji identifies when a resistance level is not going to act as a resistance level. This allows the candlestick investor to enter a trade early knowing that everybody else watching that resistance level will start buying once they see the resistance level is not acting as resistance anymore. This allows the candlestick investor to anticipate a pattern breakout.

Utilizing the combination of candlestick signals at pattern breakouts puts investors funds in situations that are not only producing a bullish trade but a very strong bullish trade. This greatly improves an investor’s probabilities of being in the right trade at the right time and participating in big profit potential. Currently, biotech’s are still producing good strong price moves. The Candlestick Forum RARE process allows the candlestick investor to research the news that causes the breakout and evaluate whether that news will produce further upside potential. This was illustrated today in VSTM, breaking out of a fry pan bottom type pattern. The news was that they were approved for cancer curing techniques for ovarian cancer. The breakout was the alert, the news has prospects of making the price move much greater. Everything related to candlestick analysis is merely common sense put into a graphic depiction. Mark your calendars, June 12 will be a Saturday training on how to identify when a breakout is about to occur and what to do after the price move does occur.

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team

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May 24th Daily Market Comments

The Dow and the S&P 500 are forming a McMuffin type Patterns, implying more steady uptrend. The NASDAQ is trading back up through the open of Friday, demonstrating the lack of any selling pressure. The Biotech’s continue to show strength. The market is still a sector specific trading environment. Be predominately long.

 

 

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Weekly Watch List May 24th – May 28th

The Dow traded positive on Friday while the NASDAQ back off. This makes the assessment that the uptrend remains in progress as long as the indexes continue to trade above the T line, but it still may be a choppy/sector specific market atmosphere. The Biotech’s continue to act well,HGEN, AUTL,SMMT, ATNF, KYMR, WVE. The shipping stocks are also showing strength, they can be bought on positive trading Monday,GNK, NNA, ASC, SB, DSSI. These market conditions allow for having long positions in place as well as short positions i.e. PRPL.
The uptrend should continue in the markets as long as there is not any severe reversal signals.

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May 22nd Stock Chat with Stephen Bigalow

To Download recorded sessions;

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 – Saturday 05/22/21

At the end of the webinar, Steve announced his upcoming “Identifying Breakouts with Candlestick Logic” event, which he’ll present on Saturday, May 29th.

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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