and The Candlestick Forum
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Thursday, August 17th, 2023 Members Stock Chat.
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Is this a market pullback or a full-scale trend reversal? It does not matter. Using the information on a candlestick chart reveals what is going on in investor sentiment. The first candlestick sell signal and a closed below the T-line dramatically improve the probabilities the bears are in control. If you acknowledge this, you take out your emotional decision-making, hoping your bullish trades are going to continue higher. There are approximately seven different indicators that reveal whether the bulls or the bears are in control. These are all visual and take approximately 45 seconds to confirm. Currently the downtrend in the market indexes have been confirmed with the fact that they continue to trade below the T-line. The talking heads on the financial news stations can give their opinions as to what the market is likely to do. However, the candlestick charts reveal what the markets are actually doing. You can take the guesswork out of your trading analysis by recognizing what the charts are revealing as far as bullish or bearish sentiment.
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Good Investing,
Stephen Bigalow
Although the retail earnings are coming out this week, the overriding influence is the summer doldrums. The revenues related to Walmart and Target may offset each other. This should not produce any excellent market movement when the summer doldrums of the relevant factors. However, this does not preclude having simple candlestick scanning techniques that identify powerful bullish and bearish solid charts. The force of human nature, illustrated in candlestick charts, overrides a lethargic market trend. The Candlestick Forum constantly teaches how to identify the most substantial price movement potentials. When the markets move sideways/drifting, the candlestick investor still has a good supply of strong trade setups.
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Good Investing,
Stephen Bigalow
The slow summer doldrums downward drift remains in progress. Today’s positive trading still does not bring the indexes convincingly above the T line. Stay predominantly short but long positions are working well also.
The T line remains the relevant indicator. The NASDAQ still in a solid downtrend, as well as the S&P 500. The Dow is having a hard time getting up above the T line. The strategy remains the same, holding long positions require stay in above the T line but the bigger profits are likely to be in the short positions.
To Download recorded sessions;
In order to download, click on the link below. Once on the video page, you will right-click on the video player and click on “save video as” to save to your files.
Thursday, August 10th, 2023 Members Stock Chat.
At the end of the webinar Steve offered a 2–week access to the members area as a bonus.
Click here access your 2 FREE week in the members area!
The CPI results are much more clearly illustrated when using candlestick charting. Investor sentiment is confirmed by using the T-line. As described in today’s trading, the indexes show powerful bullish results after announcing the CPI numbers. However, although the indexes finished up slightly positive, they closed below where they opened and below the T line. This revealed that bullish sentiment had not taken over. Trading strategies are straightforward: if the overall market downtrend is in progress, take advantage of the solid bearish power moves, the bearish best friends, and the bearish kicker signals.
Chat session tonight at 8 PM ET. Click here to register.
Good Investing,
Stephen Bigalow
Be careful of the bounce! Note that the NASDAQ and the S&P 500 are having a hard time getting up through the T line. The Dow is not showing any great decisiveness, continuing it sideways motion. Use the T line as your final criteria.
Whenever indexes are trading at or below the T line, they are much more susceptible to selling off, enhancing bearish sentiment, when bad news is announced. The taxation on the European banking system is the bearish stimulus. The short positions have better prospect.
August 17th Daily Market Comments
Although the Dow is trading higher, there is not signs of bullish sentiment in the other indexes. The downtrend persists, short positions are producing the best profits.