August 23rd Daily Market Comments

What are the candlestick charts revealing about investor sentiment/market direction? Simple, the market does not know which way it wants to go, indecisive trading. In these conditions, reliance on the T-line is important. Utilizing patterns becomes a much more stable trading platform because of the inherent investor sentiment that builds up to create a pattern. Did we know there was going to be a buyout in CBLK? No, but the scoop pattern was a good indication bullish sentiment was coming into the price move for some reason.