and The Candlestick Forum
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Stock Chat – Thursday 08/12/21
Simple candlestick scanning techniques allow for identifying the big profit moves even when the overall market trend is very slow. The lack of any selling pressure in the market indexes allow fry pan bottom breakouts to perform. Simple scanning processes also identify what the results are from outside influences, such as the passing of the infrastructure bill. Steel stocks are benefiting. Knowing that sector is gaining investor sentiment, the candlestick investor has a huge advantage by identifying which stocks in that sector are going to benefit the most. This is illustrated in our recommendation of STLD, producing a J-hook pattern off the 50 day moving average and then breaking out into new territory. The simplicity of candlestick analysis allows an investor to constantly have high probability trades in their portfolio. This is based upon one simple factor, human nature works the same way time after time.
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The Candlestick Forum team
The prognosis remains the same. The Dow is trading higher while the NASDAQ is trading lower. This makes having both long and short positions in the portfolio. The steel stocks and the industrial mining stocks are in uptrends, although there is some profit-taking today after yesterday’s big breakouts. The transportation index is trading higher, implying the slow uptrend of the market is likely to continue.
The Dow is up, the NASDAQ is down, the same waffling. This indicates that each individual stock chart is the number-one criteria for making decisions.
Many times it is asked how can you make an evaluation of a market trend when is waffling up and down? That is the answer! The graphics of candlestick charts reveal that it is waffling. That is the evaluation. That clearly illustrates there is no major trend of the market indexes, making the best market strategy to have both long and short positions in the portfolio or trade only very specific strong candlestick breakout patterns or take a break from trading and get refreshed. Simple logic dictates that the analysis of the candlestick charts reveals whether you want to be predominately long, predominately short, both long and short, or stay out of the market until a better trend direction is revealed.
Fortunately for the candlestick investor, the simple scanning techniques for candlestick signals and patterns will provide more trades than most investors will be able to handle on any given day. Having a good supply of trades allows for cultivating for the best trades. Currently, breakouts are still producing good profits as witnessed in NCTY, a bobble breakout. MorningStar signals forming right on the 50 day moving average,ENTX, JYNT. Having the knowledge of what is occurring in investor sentiment based upon candlestick signals and patterns at observable support and resistance levels provides a huge advantage for knowing what the probabilities will be for the trades set up. This is not rocket science.
More of the same! Today’s the Dow is down in the NASDAQ is up. This continues the indecisive nature of the market. The strong candlestick patterns continue to work both on the long side and the short side. The trading strategy remains simple, stay in long positions that continue to trade above the T line, stay short in positions that remain below the T line. The bobble breakout is producing good profits today.
The market nature remains the same, Today the Dow is up, the NASDAQ is down. Fortunately, the candlestick patterns continue to work effectively. Fry pan bottom’s continue to work. Bobble breakouts are working i.e. NCTY. The uptrend, albeit lethargic, is still in a slow upward trajectory, making the candlestick pattern breakouts more viable.
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 – Thursday 08/05/21
The summer doldrums are being clearly demonstrated in the Dow, up one day down the next with no direction. The transportation index slowly drifting lower, the NASDAQ supported at the T-line and showing no downward bias. The summer doldrums are probably going to be enhanced this summer with everybody wanting to get out of the house. This does not make for very good trading. However, the major advantage of candlestick patterns is that it provides high probability expectations even though the overall market trend is not doing anything with great resiliency.
Numerous fry pan bottom patterns are working. The kicker signal allows the candlestick investor to take advantage of identifying when a strong reversal is likely to occur. This is demonstrated both on the bullish side, FLXN, as well as on the bearish side LMND. When the market conditions are not providing identifiable investor sentiment, the candlestick signals and patterns in specific stocks allow for a consistent supply of profitable trades.
Chat session tonight at 8 PM ET. Click here to register.
Good investing,
The Candlestick Forum team
August 12th Daily Market Comments
The scenario remains the same, the slow uptrend of the market is continuing to provide good bullish trades and good bearish trades. Have both in the portfolio. The semi conductor sector is selling off, the steel sector is showing strength. These market conditions warrant scanning to see which sectors are performing the most bullish in the most bearish.