Weekly Watch List: September 13th – September 17th

Candlestick analysis indicated obvious reversals of the indexes this week. The Dow broke down through the bottom of a wedge formation and closed below the T line. Witnessing the selling in the Dow, at the same time the NASDAQ and the S&P 500 were demonstrating indecisive trading signals in the overbought condition, produced a high probability scenario of a change of investor sentiment occurring in the markets. This provided the opportunity to start closing out profitable long positions and adding short positions to the portfolio. Join us Saturday, September 18 for a full day training on the indicators produced in candlestick charts that allow for taking profits or going short at the appropriate times. This is valuable information that can be utilized for the rest of your trading career, whether a swing trader, long-term investor, or a day trader. This information works on all time frames.

Look for the casino stocks to trade lower after strong sell signals at resistance levels,WYNN, LVS, MLCO. Retail stocks are also trending lower. DLTR, M, BBBY. The Biotech’s are showing good bullish J-hook patterns.DCPH, RCKT, ATRA, VIR, LHDX. The portfolio bias should be oriented toward the short side.