The chicken or the egg? Yesterday’s gap up through the resistance level in the major indexes revealed a new investor sentiment. Likely the start of wave three to the upside. Today the markets are up strong again, gapping up. When witnessing a trend that starts with strong gap ups, it usually leads to much more upside. This is a good indication the next major move is in progress. The chicken or the egg? The stronger this market becomes, the more everybody becomes confident in the overall economic conditions, positive sentiment starting to feed upon itself. If today’s market closes near the high end of the trading range, expect more upside of wave three. Candlestick chart patterns have already produced 5%, 7%, 10%, 25% and greater returns over the past few weeks.
April 25th Daily Market Comments
The chicken or the egg? Yesterday’s gap up through the resistance level in the major indexes revealed a new investor sentiment. Likely the start of wave three to the upside. Today the markets are up strong again, gapping up. When witnessing a trend that starts with strong gap ups, it usually leads to much more upside. This is a good indication the next major move is in progress. The chicken or the egg? The stronger this market becomes, the more everybody becomes confident in the overall economic conditions, positive sentiment starting to feed upon itself. If today’s market closes near the high end of the trading range, expect more upside of wave three. Candlestick chart patterns have already produced 5%, 7%, 10%, 25% and greater returns over the past few weeks.