April 5th Market Direction

The best friend gap up signal last week in the NASDAQ, up through the T line, has continued to produce a strong uptrend. The continued gapping up of the NASDAQ, not yet in the overbought condition, produces strong probabilities of more upside. That prognosis is being confirmed with the Dow and S&P 500 continuing to trade above the T line. Expect some profit-taking but as of now there is not anything showing any bearish sentiment. This is allowing for the candlestick patterns to perform high profit trade results. The McMuffin pattern will produce double probability factors, a MorningStar signal implying upside, followed by a Doji sandwich implying upside. Combined the probabilities dramatically improve. The steel stocks continue to show good strength along with numerous biotech stocks. These big price moves can be predicted with a high degree of probability. Obviously, this allows for strong stock trades but more profitable with simple option trading strategies. Join us this Saturday for a full day training on how to apply the correct option trade strategies with the appropriate candlestick signals and patterns.http://special.stephenbigalow.com/41021-proven-candlestick-option-strategies/


Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team