The indexes trading above the T line makes for the strong assumption the uptrend is in progress, alleviating anxiety on early trading selling. The J-hook patterns continue to produce good profits.
Archives for July 2022
July 7th Stock Chat with Guy Cohen
July 7, 2022
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.
July 7th Market Wrap-Up
July 7, 2022
The market reversal is easily identified with candlestick signals and the T line. The market reversal was illustrated today in the Dow with a Doji followed by a gap up through the T line. The NASDAQ, opening positive after yesterday’s Doji, provided the prospect of a Doji sandwich, indicating the uptrend is in progress. Knowing what will occur as far as high probability trend movement based upon candlestick signal confirmation allows candlestick investors to aggressively establish trades based upon signal confirmation. Numerous J-hook patterns are in progress, producing both high probability results as well as strong profit results. The basis of candlestick analysis is utilizing signals and patterns that have proven to be high probability trades set ups.
Chat session tonight at 7pm central with Guest Speaker Guy Cohen. Click here to register.
Good investing,
Stephen Bigalow
July 7th Daily Market Comments
July 7, 2022
The NASDAQ is producing the strongest bullish confirmation, a Doji sandwich breakout through the downtrending resistance level, making the 50 day moving average the next likely target. Although the Dow is not showing great strength, the other indexes and indicators are showing good bullish confirmation. The J-hook patterns are producing the best results.
July 6th Daily Market Comments
July 6, 2022
The J-hook patterns continue to act well in spite of the absolute flat trading of the markets in general. Candlestick patterns are going to be the stronger trade potentials when the market does not have any direction. Both bullish and bearish J-hook patterns are performing the best in these market conditions.
Strong Trade Patterns July 5th Market Direction
July 5, 2022
Strong trade patterns can be identified using candlestick analysis. The strong trade patterns are already analyzed to produce high probability price moves. This is why the Japanese rice traders have identified them. Currently the markets are moving in a sideways mode, likely the results of the summer doldrums. However, simple candlestick scanning techniques allow for the identification of strong trade patterns both on the bullish side or the bearish side. Numerous J-hook patterns and bobble breakouts have been identified. The results of these trade set ups not only produce a relatively high probability the trade is moving in the right direction, but also with a strong price move. Crude oil dropped by nine dollars today, creating a bearish J-hook pattern. This makes scanning crude oil stocks to identify the strongest bearish signals and patterns. When the market direction is lethargic, not moving in one direction or the other with great resiliency, having both long and short positions in a trade portfolio is prudent. The strong trade patterns create high probability trade expectations.
July 1st Daily Market Comments
July 1, 2022
Note that the early-morning buying brought the indexes right up to the T line before selling back off. As long as the indexes cannot close above the T line, assume the downtrend is in progress. With that in mind, early-morning bounces will not cause anxiety if you’re short. Stay predominately short.
June 30th Stock Chat with Guest Speaker Silas Peters
July 1, 2022
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.
July 11th Daily Market Comments
Today’s lower trading in the markets indicated better prospects for a sideways moving market. Friday’s Doji in the Dow, just below the previous top of two weeks ago, indicated the lack of bullish pressure. The NASDAQ gapped down in today’s trading indicating the 50 day moving average was acting as a resistance level. Unless the markets find excessive strength going into the end of the day, the sideways mode of the markets may be revealing the summer doldrums. Any long or short positions require compelling patterns.