The summer doldrums are being clearly demonstrated in the Dow, up one day down the next with no direction. The transportation index slowly drifting lower, the NASDAQ supported at the T-line and showing no downward bias. The summer doldrums are probably going to be enhanced this summer with everybody wanting to get out of the house. This does not make for very good trading. However, the major advantage of candlestick patterns is that it provides high probability expectations even though the overall market trend is not doing anything with great resiliency.
Numerous fry pan bottom patterns are working. The kicker signal allows the candlestick investor to take advantage of identifying when a strong reversal is likely to occur. This is demonstrated both on the bullish side, FLXN, as well as on the bearish side LMND. When the market conditions are not providing identifiable investor sentiment, the candlestick signals and patterns in specific stocks allow for a consistent supply of profitable trades.
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Good investing,
The Candlestick Forum team
