The NASDAQ and the S&P 500 had a bullish day, but the last criteria still have to confirm a bullish trend, a close above the T-line. The summer doldrums remain in progress until there is a consensus of the indexes all closing above the T -line the same time or of showing continue-to-sell signals below the T-line. These market conditions do not warrant aggressive trading unless the candlestick signals and patterns show a strong indication. This puts the emphasis on analyzing each individual stock chart on its own merits. Simple scanning techniques allow the candlestick investor to pinpoint which stock positions have very strong bullish or bearish chart patterns. The number of trade opportunities may be greatly diminished in these type of market conditions, but the simple scans will identify the few strong trade setups.
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Good Investing,
Stephen Bigalow
