Yesterday’s left/right combo in the Dow, after the previous day’s hammer/Doji supported at the 50 day moving average, made for very simple trend analysis. A positive open today would be confirmation of the left/right combo. This candlestick pattern produces a very high probability trend result. The confirmation of a gap up is a very strong indication investor sentiment is ready to take the market higher provided the markets close near the high end of the trading range today. Stay predominantly long. Expect more upside.
April 5th Daily Market Comments
Yesterday’s left/right combo in the Dow, after the previous day’s hammer/Doji supported at the 50 day moving average, made for very simple trend analysis. A positive open today would be confirmation of the left/right combo. This candlestick pattern produces a very high probability trend result. The confirmation of a gap up is a very strong indication investor sentiment is ready to take the market higher provided the markets close near the high end of the trading range today. Stay predominantly long. Expect more upside.