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March 30th Market Wrap-Up

The indexes are all now trading backup above the T-line with the Dow having a good positive day-to-day. The visual ability to analyze investor sentiment allows investors to position their trades in the appropriate direction. Trend analysis of the overall market is very easy using candlestick signals and patterns. Knowing the direction of the overall market makes utilizing candlestick signals and patterns that much more effective. Currently, numerous candlestick patterns, such as the J-hook pattern and frypan bottom pattern are showing good profitable moves. Simple portfolio positioning takes a dramatic amount of emotional trading out of the mix. Identifying which chart patterns are creating a steady Eddie pattern greatly reduces analysis time each day and makes the appropriate time to take profits much easier to identify.

Identifying a steady Eddie pattern is relatively simple. The Japanese Rice traders say let the market tell you what the market is doing. Numerous stock prices will move with a consistency that can be observed, based upon the reoccurring aspects of investor sentiment. Once a steady Eddie pattern is identified, not only will the uptrend remains consistent, but when it is time to take profits becomes much more easy to put into effect. Having numerous steady Eddie positions in the portfolio allows for more tied to be applied to analyzing the other positions in the portfolio that would need more attention.

 

Chat session tonight at 8 PM ET with Stephen Bigalow. Click here to register.

Good Investing,

The Candlestick Forum Team


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