August 8th Daily Market Comments

The expected bullish confirmation that was illustrated over the past couple of days is in progress. The bullish Harami and the hammer signal of the past two days in the oversold area was a good indication that this is where the Bulls were starting to step back into the market. Anticipate the first move back up to the T-line, making any short positions that are showing buy signals being ready to be closed. There are some strong bullish signals, such as bobble breakout’s and scoop patterns that are providing very high probability/high profit trade set ups.