The strength in the indexes is most emphasized in the NASDAQ. Last week it formed a best friend signal which indicated the potential of a strong uptrend. The uptrend has been confirming with gapping up every day in that index. The Dow and S&P 500 continue to trade above the T line. This makes for very simple analysis. As long as the indexes continue to trade above the T line, the uptrend remains in progress. The fact that the uptrend is not yet showing any signs of bearish sentiment allows candlestick patterns to perform with a high degree of profitability. These profits of these price moves can be greatly enhanced with simple option strategies. Maximizing a price move profit can be done with very simple option strategies applied to the appropriate candlestick pattern move. Join us this Saturday for a full day training, starting with the basics of option trading and then applying simple strategies with the corresponding candlestick pattern breakout move. The markets are still exhibiting sector rotation. A major advantage of candlestick analysis is allowing an investor to see which sectors are starting to fizzle out and which new sectors are starting to act strong. Click here for more info.
Chat session tonight at 7pm central with Stephen Bigalow. Click here to register
Good investing,
The Candlestick Forum team
