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March 16th Market Wrap-Up

What is the nature of the market trend? Although today's trading is not showing the resiliency that was seen in yesterday's trading, the market indexes are showing patterns that are easily identifiable. The Dow, S&P 500, and the NASDAQ are all in the process of setting up a bullish J-hook pattern. The lack of aggressive bullish sentiment on any particular day does not offset the information provided in the candlestick pattern. It actually illustrates there is no exuberance in this market uptrend. This creates a much more solid, less whipsawing, market trend. Knowing that there has not been any reversal in the market trend, and or investor sentiment, allows candlestick investors to take advantage of the patterns that will produce high profit results. These usually include J-hook patterns and frypan bottom breakout's. Candlestick analysis has some very powerful aspects. It identifies and pinpoints what investors find to be the most bullish or bearish concerns. Prices do not move based upon fundamentals, prices move based upon the perception of fundamentals. Candlestick analysis is the graphics depiction of what is occurring in investor sentiment, allowing candlestick investors to allocate trade funds to price moves that are being affected right now.

Chat session tonight at 8 PM ET with Guest Speaker Sandy Chaikin. Click here to register.

Good Investing,

The Candlestick Forum Team

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