The fry pan bottom pattern continues to develop in the indexes. This makes for more confidence that bullish trades are going to continue to act well without any evidence of sellers trying to take control. Long positions should be the portfolio bias.
Archives for January 2023
January 10th Daily Market Comments
January 10, 2023
Currently a lack of direction in the markets. At best a sideways motion. Continue to have both long and short positions in the portfolio. Each individual stock chart evaluation is the top criteria.
January 9th Market Direction
January 9, 2023
Market trend analysis is greatly enhanced by knowing what each candlestick signal is revealing. Today’s market trend analysis would be considered bullish by most investors because the indexes traded higher, But the candlestick investor has the graphics that indicate the bears are still in control when closing the indexes back below where they opened. Add that to the fact that Friday’s bullish trading was not a candlestick reversal signal; There should remain skepticism that the bullish uptrend is ready to start. Saturday, we will be doing a mini spotlight training on accurately evaluating when there has been a market reversal. This will include 1/2 a dozen confirming indicators that enhance the probabilities that a trend reversal has occurred. Candlestick signals reveal very strong changes of investor sentiment, as illustrated in the best friend signal and the kicker signal. They have very high probabilities producing profitable trades. The candlestick forum is in the process of doing statistical studies of what those probabilities actually are and how trades should perform to improve the probabilities based upon how they open after a candlestick reversal signal. If you are a day trader, swing trader, or options trader, you will gain some very valuable information from the statistics. Join us at the Candlestick Forum, even for a two-week free trial. You will see the value of candlestick charts.
Members Chat session tonight at 7pm central. Free to Members. Not a member? Click here to join
Good Investing,
Stephen Bigalow
January 9th Daily Market Comments
January 9, 2023
The positive trading on Friday did not produce reversal signals, merely positive trading. This did not negate the possibility of more upside but the lack of a candlestick reversal signal in the indexes that further upside should be viewed as not a full-scale reversal but a potential bounce. Numerous short positions should have been closed on positive trading today but be ready to re-short if this market turns around. Any long positions should be applied with safety stops in place.
January 5th, 2023 Stock Chat with Stephen Bigalow
January 5, 2023
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 01/05/23
At the end of the webinar, Steve announced his upcoming “Market Timing” event, which he’ll present on Saturday, January 14th.
This half-day training workshop will provide you with visual perspectives that can improve your investing.
Click here for more information.
January 5th Market Wap-Up
January 5, 2023
Scans for the best trades using candlestick analysis have two significant benefits. First, scans for the best trades allow you to identify stock positions that are getting excessive bullish or bearish activity. Additionally, scans for the best trades also identify which sectors are gaining investor attention. This is a straightforward analysis. Currently, the market trend is revealing a lack of bullish or bearish sentiment. However, this does not diminish a candlestick trader’s trading prospects. There are 9500 trading entities. Each afternoon, the best trade setups can be identified relatively quickly in a matter of minutes using candlestick scanning techniques. Although there may not be as many trade opportunities, there will usually be more opportunities than most investors need. Join us tonight for our free candlestick forum chat session illustrating how to identify the best trade setups. Breakouts, either bullish or bearish, provide an immense amount of information regarding what is occurring in investor sentiment. This is what puts the probabilities dramatically in your favor.
Chat session tonight at 8 PM ET. Click here to register.
Good Investing,
Stephen Bigalow
January 4th Daily Market Comments
January 4, 2023
Another indecisive sideways market trend with the transportation index be in the only index showing conviction.NFLX appears to be the only biggie with a direction. Continue to scan for individual stock charts that are showing strong bullish or bearish signals.
January 3rd Daily Market Comments
January 3, 2023
What are the markets telling us about new strong sectors going into 2023? Nothing! However, the electric vehicle sector is showing negative bias. The lack of bullish enthusiasm in today’s market reveals investor sentiment is remaining the same as prior to the new year. The sideways mode of the market trend remains.
January 12th Daily Market Comments
Identifying that a fry pan bottom pattern has been performing in the indexes allows for sitting through knee-jerk reactions with a little bit more patience. Inflation? Not really affecting investor sentiment with any great influence. Continue to stay long on good bullish charts, there are good bearish charts working also.