May 3rd Market Direction

These market conditions are making having both long and short positions in the portfolio very profitable. The Dow is trading higher today while the NASDAQ was doing a bearish Doji sandwich, closing below the T line. Simple candlestick scans allow investors to find both excellent bullish positions and excellent bearish positions. The oil refining sector showed great strength today. Numerous stocks in that sector formed double Doji set up confirmation. Knowing that a sector is being bought across-the-board, candlestick investors have the advantage of identifying which stocks in that sector are showing the strongest bullish signals. That same analysis can be applied to the gold and silver sector. Gold and silver prices gapped up today. This has produced many strong signals in that sector. Utilize the strongest of those signals to establish trades. Having a set of our flashcards next to your screen makes identifying and learning candlestick signals and patterns much more easy and quickly.


Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team