The Dow was attempting to form a bullish Doji sandwich breakout today. It closed at the lower end of its trading range but still up 100 points on the day, this might cause a little bit of consternation but the NASDAQ in the S&P 500 after opening much higher continued to trade toward the top and of there trading range. The true definition of a bullish market is one that continues to move higher no matter what the bad news might be i.e. impeachment. The strength of today’s trading provides the prospects of another wave to the upside after the recent consolidation in the markets. This is allowing for very strong price moves at breakout levels. Breakout patterns such as AAPL and NVDA not only reveal more upside potential in each individual stock chart, but confirms the overall investor sentiment in the markets remain strong. When the market analysis reveals an up trending bias, the candlestick investor has a huge advantage by being able to identify which chart patterns are going to produce strong breakout moves. Continuing to cultivate the strongest chart patterns into the portfolio dramatically improves the overall profitability of the whole portfolio. When most investors have both profitable positions and losing positions in a portfolio, hoping the losing positions will eventually start moving up, the candlestick investor has a huge advantage by being able to constantly position funds into high profit expectation positions.
We will conduct a “Members Only” chat session tonight at 8:00 pm EST.
Good Investing,
The Candlestick Forum Team
