July 27th Daily Market Comments

Assumption – candlestick signals and patterns reveal price direction with a high degree of probability based upon historic results. They are further enhanced with confirming indicators, such as the T line. This means if the charts are revealing price movement that cannot be clearly analyzed as far as whether the bulls or the bears are in control, that becomes the analysis. The evaluation should be there is no identifiable price movements that are showing consistency, relax and sit in cash until there becomes better visual analysis. There were good strong sell signals over the past few days in the market indexes. However, today’s positive trading put so sell signals in doubt. That all adds up to the market does not have a decisive direction yet.