Although the Dow was up strong today, it did not change the sideways trajectory of the Dow. Add the factor’s that the NASDAQ, S&P 500, and the transportation index continue to trade sideways as well as below the T-line, and there is not any major trend movement in this market. However, the advantage of analyzing candlestick charts is having the ability to scan for the individual stocks that are having the strongest bullish or bearish signals/patterns. This allows for continuing to make good profits even though the overall market trend is sideways. J-hook patterns and kicker signals are still producing good bullish profitability as well as strong bearish best friend signals producing good strong short trade profits. Simple candlestick scanning techniques pinpoint good trades when utilizing the universe of 9500 trading entities.
Chat session tonight at 8 PM ET.
Good Investing,
Stephen Bigalow
