The market indexes showed bullish signals, negating the strong sell signals of last week. The NASDAQ formed a bullish Harami on Friday with a gap-up follow-through in today’s trading. This immediately alerted candlestick investors to cover short positions that were not confirming. The Dow uses the T line as support, demonstrated by a bullish Harami signal. The analysis now infers that the bearish sentiment did not take control. This does not necessarily mean an uptrend is starting again, but it does imply that there is not any major selling off occurring. This still produces market conditions that allow for having profitable long and short positions established.
The electric vehicle sector has been in a profit-taking drift for the past six weeks. However, new bullish signals demonstrate the consolidation is over and the prospects of new strength coming into set sector is being observed. Note how QS and BLNK are showing good strong reversal patterns. AYRO can be bought aggressively on a bobble breakout on positive trading tomorrow. The Doji sandwiches also are appearing in numerous positions, creating very high probability trades setups. Note how the candlestick signals show the possibility of profit-taking and then illustrate when that profit-taking may be over. This visual information makes profitable trading much easier. Join us this weekend for a comprehensive two-day training on the logic and effectiveness of candlestick analysis. This is information that will improve your trading for the rest of your trading career.
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Good investing,
The Candlestick Forum team
