October 31st Market Direction
Although the markets continue to trade flat, simple candlestick scanning techniques allows the candlestick investor to identify which stocks have the strongest bullish charts and/or the strongest bearish charts. This was illustrated when witnessing kicker signals on Friday in SRCL and GIMO. The expected results of a kicker signal provides high profit opportunities for investors. This is due to the expected results witnessed after a candlestick kicker signal. The same is true when identifying what should occur after a candlestick signal. The recommendation to go short on LITE was based upon the slow curve pattern developing below the T-line and a huge Doji signal on Friday. Any weak trading today would confirm the downtrend was in progress. The big 10% move to the downside in LITE stock is the benefit of recognizing what candlestick signals should produce as a result.
We will conduct a "Members Only" chat session tonight at 8:00 p.m EST.
The Candlestick Forum Team
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