November 24th Market Wrap-Up
The Friday after Thanksgiving, a half day of trading, using does not create any major market movement. Today's trading continued to indicate the slow uptrend remains in progress as long as the indexes keep trading above the T line. This also has produced some very high profit candlestick pattern breakouts. As long as the overall markets do not show any major change of investor sentiment, the bullish sentiment that creates candlestick breakouts will continue to produce very good profitability.
Amazon has produced some huge option profits based upon the MorningStar/scoop pattern of last week. There are numerous price pattern breakouts creating very good profits based upon the fact that there is no major change in the overall investor sentiment in the markets. Simple scanning techniques allows for the visual recognition of where the pattern breakouts are occurring. This produces two benefits! First, it puts investors in the right positions at the right time. Secondly the price movements will usually be very strong profit producers, much more so than mere uptrending stocks. Human nature works the same way time after time.
No Stock Chat tonight due to Holidays.
The Candlestick Forum Team
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