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March 26th Market Direction

Candlestick charts provide very accurate assessments for analyzing the overall market trends. Simple confirming indicators reveal when a major market reversal has occurred and illustrating when a trend is continuing. Candlestick charts also illustrate when a market trend does not demonstrate a consistency of investor sentiment. Today's positive trading in the market indexes formed non-candlestick reversal signals. There will be bullish days in a market trend that can change the trend temporarily. Logic says that if a bullish formation has occurred which is not a bullish candlestick signal, there is a different ramification. Today's positive trading in the indexes did not form candlestick reversal signals. If today's positive trading cannot be identified as a candlestick reversal signal, it needs to be analyzed with a little bit more skepticism. Had today's candlestick formation had any relevancy as a reversal signal, the Japanese Rice traders would have identified it like they have the other candlestick signals because of its expected results. The lack of a candlestick reversal signal indicates the probabilities the current move may merely be a bounce versus a reversal. This should put investors more diligently watching for the first signs of weakness, likely ending the bounce.

Whether the market has reversed or not, simple candlestick scanning techniques will identify which stocks were trading with strong buy signals today, whether the market was trading positive or not. There were numerous kicker signals formed today, the kicker signal being the strongest of the candlestick signals.

We will conduct a "Members Only" chat session tonight at 8:00 pm EST.

Good Investing,

The Candlestick Forum Team

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