The power of candlestick patterns demonstrate the nature of a price move. The power of candlestick patterns is currently illustrating the nature of the current market conditions. There are strong bullish charts as well as strong bearish charts. The Dow is producing a bobble breakout, a strong bullish candlestick pattern. That by itself demonstrates the probability of a strong market trend. Although the NASDAQ is trading below the T line, it is currently producing a bullish move. The S&P 500 closed above the T-line and the 50-day moving average. Bullish trading in the indexes would confirm the bullish setups of today. What sectors will act the strongest based on Republican control of the house and the Senate? This question was asked in our chat room today. Candlestick analysis makes that answer very simple. We may not have the insights to predict which sectors to be ready to buy, but the results of candlestick charts after the election will clearly indicate what the results of the election has produced as the sectors that are going to benefit the best. We do not have to analyze what to be ready for before the election. Candlestick charts will reveal what the big money has analyzed as being the best sectors. The power of candlestick patterns make it very evident of where money is moving to.
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Good Investing,
Stephen Bigalow
