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Daily Market Comments - June 2017

06/30/17 - Stock Market Comments

Today's positive trading is trading as a Doji Day in the Dow  and S&P 500, showing indecision in an indecisive market trend. This continues to reveal there is no bullish or bearish consensus in this market, a sideways mode is still the likely prognosis. Continue to hold long positions that are acting strong and shorting positions that continue to act weak. Obviously not a profound trading strategy, but the best strategy for when the markets are showing no decisiveness.


06/29/17 - Stock Market Comments

Today's selling demonstrates that Yesterday's bullish trading day was merely showing the indecisive sideways trend of the overall market. The Dow and S&P 500 are not showing any dramatic selling Today but the NASDAQ continues to sell off hard. However, the transportation index is still showing some strength. These market conditions illustrate the lack of consensus between the Bulls and the Bears, demonstrating specific sectors are being bought while other sectors are being sold. Have both long and short positions in the portfolio. This is why we recommend Trend Analysis.


06/28/17 - Stock Market Comments

Today's positive trading continues to make the T-line a very vital factor in trend analysis. The NASDAQ has tested the 50 Day Moving Average Today before bouncing up while the Dow opened at the T-line Today and moved positive, the S&P 500 Gapped Up and is currently trading right at the T-line, and the transportation index has done a Kicker Signal bouncing off the T-line and continuing a J-hook pattern.

06/27/17 - Stock Market Comments

The T-line remains an important trend factor. The Dow is trading above the T-line. The NASDAQ is doing a Doji right on the T-line. This indicates there is no dramatic change of investor sentiment, the slow uptrend remains in progress. Stay predominantly long, utilizing the T-line as a support level for each individual position.


06/26/17 - Stock Market Comments

Today's positive trading, other than the NASDAQ, continues to demonstrate a slow uptrend in the market as long as the indexes do not close below the T-line. Continue to stay long in charts that do not demonstrate a sell signal and a close below the T-line. The biotechs continue to act strong. Crude Oil is trying to based around the $43 area but still not showing any major trend of the downtrend. This is why we recommend Trend Analysis.

06/23/17 - Stock Market Comments

The health care rhetoric going on in Washington today appears to be adding strength of the market indexes. This also illustrates the T-line acting as support for all the indexes. The healthcare/biotech sector continues to act very bullish. The market conditions still make pinpointing the strong charts in specific stocks and sectors the main investment criteria. Stay predominantly long.

06/22/17 - Stock Market Comments

The health care rhetoric going on in Washington today appears to be adding strength of the market indexes. This also illustrates the T-line acting as support for all the indexes. The healthcare/biotech sector continues to act very bullish. The market conditions still make pinpointing the strong charts in specific stocks and sectors the main investment criteria. Stay predominantly long.


06/21/17 - Stock Market Comments

The ability to pinpoint which sectors are acting the best, even when the market is not showing any major trend, is amplified by the illustration of the chart movements in specific sectors. LABU clearly indicated the biotech sector was acting well, making stocks in that sector a viable strong trades. It also allowed for a good trade in LABU  itself, either stock or options. The graphics of candlestick charts allow for pinpointing which areas of the markets are acting the best. This is why we recommend Trend Analysis.


06/20/17 - Stock Market Comments

The major indexes are showing some profit-taking from Yesterday's big price move but no change of investor sentiment. The transportation index is selling off hard. This may be a healthy indication that specific sectors are getting hit with profit-taking but the overall market remains in a study uptrend. The profit-taking along the way implies there is no exuberance coming into this market. Stay predominantly long but use the candlestick charts to illustrate which stocks/sectors are acting the strongest. This is why we recommend Trend Analysis.

06/19/17 - Stock Market Comments

Today's positive trading has produced gap ups in the indexes. The Dow, which is been moving steadily up, has a gap up in the overbought condition. This would normally create an alert for some potential profit-taking. However, the gap ups in the NASDAQ, the S&P 500, and the transportation index provide strong Bullish Signals after some consolidation. Today will be a very bullish indication provided the indexes close at the higher end of their trading range. Currently, it has to be assumed the uptrend remains in progress as long as the indexes trade above the T-line.


06/16/17 - Stock Market Comments

The markets remain in an indecisive consolidation stage, the NASDAQ appears to be drifting lower toward the 50 Day Moving Average. The S&P 500 is moving sideways and cannot get back up above the T-line. The Dow and S&P 500 are trading above the T-line but with indecisive trading. Hopefully this is not the summer doldrums. There are good trades continuing with the T-line be in the ultimate support levels. These market conditions warrant being very selective as far as long and short positions. This is the normal environment when the markets are not showing any major trend.


06/15/17 - Stock Market Comments

The big break down in the NASDAQ last week has been confirmed with the failure of a close backup above the T-line. Yesterday's bearish engulfing signal at the T-line illustrated the lack of Bullish pressure. Today's Gap down in the NASDAQ indicates the 50 Day Moving Average will be a likely target. The transportation index did a bearish engulfing signal yesterday followed by Today's gap down which is trading below the T-line.


06/14/17 - Stock Market Comments

The markets are trading slightly lower Today. The main news attention is upon the shooting in Washington. The financial markets appear to be waiting for the results of interest rates this afternoon. On indecisive days like this, the candlestick reversal signals and the T-line becomes much more relevant. Currently there is no dramatic change of investor sentiment, the slow uptrend remains in progress. This is why we recommend Trend Analysis.

06/13/17 - Stock Market Comments

Today's positive trading continues to illustrate bullish sentiment. The Dow, S&P 500, and the transportation index are showing consistent uptrends, above the T-line. The NASDAQ after the hard selloff last week, is trying to bounce back up at least to the T-line area. Overall, with the indexes not necessarily trading in correlation with each other indicates specific stocks/sectors are showing strength or weakness, not across-the-board movement in all stocks.

06/12/17 - Stock Market Comments

Is this a market selloff? Not across-the-board! The big selling appears to be in the big-name stocks, AMZN, NFLX, AAPL. This is causing the NASDAQ. But the Dow and S&P 500 and the transportation index is not selling with any great resiliency. Additionally, numerous stocks are still trading positive Today.


06/09/17 - Stock Market Comments

The markets do not like indecision. Apparently the results of Yesterday's Comey hearings have clarified to investors that nothing dramatically detrimental has occurred in the political arena. Wave three is in progress, the T-line has been acting as support. The markets are trading at all-time highs without any signs of reversal signals as of yet. Continue to stay long until a dramatic reversal signal appears.

06/07/17 - Stock Market Comments

Crude Oil is the culprit this morning. The expanded inventory report on Crude Oil has knocked the price down to $46 a barrel. This is the rationale for the Dow backing off from trading higher earlier. But there is not yet any indication that the sellers have taken control. The indexes continue to trade above the T-line without any decisive sell signals. Continue to stay long.


06/06/17 - Stock Market Comments

Although the markets opened lower Today, there is still no demonstration of strong selling resolve. The Dow and S&P 500 are in a Doji formation so far Today. The NASDAQ opened lower but is currently trading slightly positive. Overall, there still is not any decisive selling in the markets, merely profit-taking during an uptrend. The biggies such as AMZN, TSLA, NFLX and NVDA are not showing any change of bullish direction. This illustrates that investor sentiment remains positive. Stay predominantly long. This is why we recommend trend analysis.


06/05/17 - Stock Market Comments

The market indexes still do not show any change for potential change of investor sentiment. The Dow and S&P 500 have used the 3T-line as a pullback support already Today and are now just trading slightly positive. The consolidation days add strength to the overall trend, allowing profit-taking to occur along the way. The upward trend remains in progress as long as the indexes trade above the T-line.


06/01/17 - Stock Market Comments

The T-line continues to act as a very important trend indicator. Yesterday the indexes traded well below the T-line but all close backup above the T-line. The Dow has already used the T-line as support today and now is trading positive. The current prognosis remains as expecting a relatively flat/very slow uptrending market until there is a breakout of the current trending channel. Stay predominantly long but continue to have a few short positions in the portfolio. The longer investor sentiment continues to move in a positive direction, the more the confidence will start feeding upon itself.

 

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