September 8 Market Wrap-Up
The indecisive trading nature of the market can be seen by the obvious sideways motion on any chart, but it becomes more pronounced when witnessing the candlestick signal formations involved in the daily trading. As illustrated in the Dow chart over the past few months, each trading day has produced indecisive candlestick signals on a daily basis. This further illustrates the lack of bullish or bearish investor sentiment. Fortunately for candlestick investors, even in a sideways/lethargic market move, simple candlestick scanning techniques allows for identifying which sectors are moving the best.
Oil stocks were start to show strong buy signals over the past few days of trading. There price moves were amplified today when the oil report revealed much lower inventories. This is a perfect example of not having the capabilities to analyze what might be going on in the oil industry, but it can be seen in the results of the research firms identifying what is happening to an industry. Candlestick signals and patterns are the result of the accumulative knowledge and applied buying and selling decisions of all the investment community. This allows the candlestick investor to identify where the money is moving.
Public Stock Chat session tonight at 7 PM central with Stephen Bigalow. Click here to register.
The Candlestick Forum Team
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