Although the market indexes revealed a consolidation/profit-taking day, the NASDAQ sold off with excessive force. The Dow traded flat and the transportation index traded higher. But the NASDAQ sold off all the way back to the T-line. Today’s trading because the alert for the market environment still be in very stock/sector-specific. High tech stocks sold off while homebuilder stocks continued higher. These market environments are what make candlestick scans more relevant. Simple scanning techniques can pinpoint which sectors are trading bullish while identifying which sectors are selling off.
The T-line rule remains a very relevant trend indicator. Candlestick signals and patterns allow for much more clarity as to when to take profits. Join us tonight in our free chat room session concentrating on the indicators that allow for optimal profit-taking.
This past weekend we presented the optimal entry points for daytrading as well as swing trading. This was a Mini spotlight training that demonstrated a few extremely high probability daytrade setups. Mark your calendars! December 18 will be a full-day training for the optimal daytrade/swing trade entries. This will include approximately seven candlestick trade set ups that produce high probability profitable day trade results. Click here to register.
Chat session tonight at 8 PM ET. Click here to register.
Good investing,
The Candlestick Forum Team
