The hard selling today revealed a new trend analysis. Although the Dow did not have an actual candlestick reversal signal, the hard selling in conjunction with the NASDAQ closing below the T line reveal the lack of any bullish pressure in the market trend. Another indicator that implies the bears are taking control is the simple quantitative results doing candlestick scans. When the bearish signals are revealing much better trades than bullish signals, candlestick logic indicates the bears are likely to be taking control. As observed on numerous charts, recent uptrends failed at the T line and started back down. This makes having the portfolio more oriented toward the short side a logical strategy.
Join us this Saturday to apply the logic built into candlestick signals to take advantage of optimal entries for day trades as well as swing trades. There are market conditions when buying trending positions is more logical. And there are times when having the ability to find strong day trades is more viable when the market is not providing consistent trending. Join us this Saturday for a full candlestick forum training on daytrade entries. You will gain valuable insights that will improve all your trade entry strategies. Click here for more info.
Good investing,
The Candlestick Forum Team
