Market reversal? Today the indexes produced MorningStar signals, one of the 12 major reversal signals. The market reversal still requires confirmation with positive trading tomorrow. Positive trading would confirm the MorningStar signal and indicate the T line is not going to act as resistance anymore. However, it will be very important to see what the premarket futures reveal as far as a reversal is concerned. A lower open would merely indicate today’s positive trading was a bounce during a downtrend. There remains some strong sectors in these market conditions. Crude oil appears like it will be trying to break out of a wedge formation. There are numerous J-hook patterns forming in oil stocks. It is this type of accumulative analysis that allows the candlestick investor to be in high probability trades a good percentage of the time. Join us this Saturday for a free multi-speaker event. These events allow investors to view numerous trading strategies all at one time. And investor can use these sessions to see which trading strategy or which combination of trading strategies best fit their trading nature. Join us, at 10 o’clock Saturday, it is good free information. Click here to register.
Chat session tonight at 8 PM ET. Click here to register.
Good Investing,
Stephen Bigalow
