The bearish sentiment of the market was pretty well-negated Today. Although the Dow did not do a bullish signal, it closed back up above the T line. The NASDAQ produced a Best friend signal, bouncing off the 50 day moving average area, and closed above the T line. This may not necessarily indicate a new bullish trend but it did illustrate the bearish sentiment was probably eliminated. This allows for identifying the strong candlestick by pattern breakouts, such as the classic pattern, J-hook patterns, and fry pan bottom pattern breakouts to produce excessive profits. There were numerous best friend signals produce today. These are the charts that have illustrated strong reversals.
Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team
