November 16th Market Wrap-Up
The markets had the opportunity to whipsaw upon the passing of the tax bill. But it didn't, indicating the bullish sentiment was right in line with the expectations. Bullish sentiment continues to make strong candlestick bowl signals in the Dow, the NASDAQ, and the S&P 500, with the transportation index doing a very strong reversal signal in the oversold conditions. Prices do not move based upon fundamentals, prices move based upon the perception of fundamentals. The Dow and S&P 500 formed bullish kicker signals backup above the T line. The NASDAQ formed a best friend signal backup above the T line. The combination of strong bullish candlestick signals and closing above the T line clearly reveals that bullish investor sentiment is still maintaining the uptrend. This allows candlestick investors to make strategic assessments of which direction their funds should be allocated in the portfolio.
Numerous candlestick charts continue to demonstrate the strength of either a bullish or bearish trend based upon the lack of any reversal signals and staying above or below the T line. This combination allows investors to be in the right positions at the right time and be able to sleep well at night. Out of 10,000 trading entities, simple candlestick scanning techniques provide a constant supply a very strong bullish trades as well as strong bearish trades. Having more positions to analyze that are extremely good probabilities allows for the cultivation of investor being in the best possible trades.
Chat session tonight at 8 PM ET with Doug Campbell illustrating how to read price actions for consistent profits. Click here to register.
The Candlestick Forum Team
Website special reflects current newsletter. If you are reading an archived newsletter you will be directed to Current Website Special