Although the Dow continues to trade flat/sideways, the NASDAQ has consistently provided a slow up trending trajectory, remaining above the T-line. The lack of any selling pressure allows for the candlestick patterns to perform excessively well without any indication of any bearish sentiment affecting the current market trend. This has allowed for some big profits to occur in both fry pan bottom patterns as well as J-hook patterns. Sector strength is revealed in the biotech area. LABU has indicated strength in that sector. IMMU, CODX, and DVAX are providing strong bullish signals in the biotech sector. As long as the NASDAQ continues to trade above the T line, even though the Dow and S&P 500 are drifting sideways, it has to be assumed there is no major change of investor sentiment, the slow up trending market trajectory remains in progress. This allows the candlestick investor to take advantage of the strong price patterns that are performing in these market conditions.
