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Daily Market Comments - February 2017

02/28/17 - Stock Market Comments

The flat trading of today still reveals that there has not been any change of investor sentiment. Unless there is a very definite reversal signal in the markets, it has to be assumed the uptrend remains in progress as long as there is not a sell signal and a close below the T-line. This does not eliminate the possibility of some profit-taking back to the T-line. However, currently there are no signs that the uptrend does not remain in progress. Stay long but have protective stop's in place.

02/27/17 - Stock Market Comments

Today's trading continues to reflect that there is no bearish investor sentiment coming into the markets yet. This means that each individual stock/sector should be analyzed based upon their own merits. A slow steady market uptrend is now going to produce profit-taking in sectors that have moved well. This usually implies the sector rotation, making good profit potential starting to occur in new sectors. Stay predominantly long until there is a definable candlestick reversal signal in the indexes.

02/24/17 - Stock Market Comments

The indecisive potential reversal signals of yesterday are experiencing weakness today as potentially anticipated.
The nature of today's selling is indicated by the signal/formation today. Currently the indexes are showing indecisive selling, Doji days. The index that should provide the most valuable information today is the NASDAQ.

02/17/17 - Stock Market Comments

Today's profit-taking has indications of merely profit-taking.  Currently the major indexes are trading at or above where they open, revealing that there is still buying occurring in the markets. It will not be unusual to see some backing and filling on a Friday before a three-day weekend. The important factor be to see if there is any indication there has been a major change of investor sentiment. If not, the uptrend in these markets continue to move in a bullish direction.

02/01/17 - Stock Market Comments

A downtrend usually consists of buying in the morning and selling in the afternoon. Today's positive trading has diminished greatly. It will be important to see if there is any strength in the markets going into the close today. If so, it would illustrate a lack of direction/force of investor sentiment, implying the sideways or slow uptrend of the market had not changed. The mixed direction of the overall market is illustrated by just as many positive trading charts as bearish trading charts. This is making the markets very sector/stock specific.

02/02/17 - Stock Market Comments

The lack of decisive direction in the market indexes continues to allow good candlestick chart patterns to progress. The markets remain very sector specific. Gold stocks acting well today. LABU is currently nudging the upper resistance level. NVRO has shown strong confirmation of a J-hook pattern. As long as the indexes demonstrate that there is no change of investor sentiment, the sideways/slow uptrend of the markets remain in progress.

02/03/17 - Stock Market Comments

The appearance of indecisive trading in the indexes over the past few days provided important information. Support levels/trend channels had not been breached. The T-line was still fairly close to the trading range. Today's positive trading has brought the Dow, S&P 500, and the NASDAQ back up above the T-line area with significant strength. As long as the market indexes do not demonstrate a severe selling reversal today, the slow uptrend is still the main trend assessment. Continue to utilize the candlestick charts to indicate which sectors remain the strongest.

02/06/17 - Stock Market Comments

The markets are trading relatively flat. However, the candlestick formations illustrate buying from where the markets opened today. This may not demonstrate any powerful bullish strength, but it does reveal there is not any confirmed selling. The T-line continues to play a critical factor in both the trend of the indexes and current uptrending stocks. Stay predominantly long until there is evidence of a compelling reversal signal in the markets.

02/07/17 - Stock Market Comments

Nothing has changed, the market uptrend remains consistent. The indexes have the potential of breaking out into a new wave three, providing the prospects of another strong uptrending rally. These market conditions allow for just maintaining uptrending stocks, steady eddies, that remain above the T-line.

02/08/17 - Stock Market Comments

Currently the market indexes are not showing any buying or selling pressure that would not be normal for a slow uptrending market. A solid uptrend usually consists of selling in the morning and buying later in the day. Gold stocks still remain extremely strong. There appears to be as many stocks trading higher as trading lower, indicating there has not yet been any major change of investor sentiment. Stay predominantly long.

02/09/17 - Stock Market Comments

The anticipation of tax reforms apparently is keeping good strength in the markets. The frypan bottom patterns are working extremely well in these market conditions, i.e. CLF. The uptrend remains in progress as long as the indexes continue to trade above the T-line. Stay predominantly long but watch for profit-taking/rotating in specific sectors.

02/10/17 - Stock Market Comments

The market indexes are showing a bullish steadiness, no wild exuberance in this current uptrend. These market conditions allow for pinpointing which stocks/sectors are performing the best based upon candlestick charts. Frypan bottom and J-hook patterns are producing very strong profits.

02/13/17 - Stock Market Comments

The potential breakout of wave to was evident with a gap up on Friday into new high territory, especially on the Dow. Today's positive trading is just continuation of a new wave three potential. As long as investor sentiment continues to move the overall market in a general bullish direction, the high profit candlestick patterns, the breakout patterns, can be exploited for very high profits. That was the purpose of recommending INFN and AAOI today. Knowing what the overall market direction is doing allows for candlestick investors to exploit the high profit trades.

02/14/17 - Stock Market Comments

The potential breakout of wave to was evident with a gap up on Friday into new high territory, especially on the Dow. Today's positive trading is just continuation of a new wave three potential. As long as investor sentiment continues to move the overall market in a general bullish direction, the high profit candlestick patterns, the breakout patterns, can be exploited for very high profits. That was the purpose of recommending INFN and AAOI today. Knowing what the overall market direction is doing allows for candlestick investors to exploit the high profit trades.

02/15/17 - Stock Market Comments

The slow steady uptrend of the market continues to produce big profits from J-hook patterns and frypan bottom breakout's. Crude oil inventories are up again, probably keeping crude oil prices in check. That sector may not have great movement, but the strong sectors can be easily identified. LABU continues to indicate the biotech's are acting well. Mining stocks continue to act well. As long as the market does not show any major reversal, there are strong profits being made in the strong sectors.

 

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