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Stock market charts

 
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Wed Oct 27, 2004 8:45 pm    Post subject: Stock market charts Reply with quote

Stock market charts become a very good roadmap for training direction when you know what the candlestick signals are telling you. The Morning Star signal seen in the Dow these past few days that is prepared for going long. When the stock market charts in both the Dow and the NASDAQ revealed doji's on Monday's close, with the stochastics in the oversold condition, that made it very easy to know that you wanted or be going long if you saw the market open higher on Tuesday. Once it created a morning Star signal, adding to the long positions was easy
because the candlestick signals had told us that a reversal had occurred.

There are many stocks that are bouncing up off the 50 day moving average after a pullback. This is a sign of a good healthy market.
Continue to hold your long positions. There should be a test of a 50 day and 200 day moving averages and a lot of charts. This will mean
a few more days of good upside potential.
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