August 20th Market Direction
Sell in May and go away? When you utilize candlestick charts, you do not have to rely on old adages. You can't make money during the summer doldrums! With candlestick charts, you can always identify which sectors and stocks are getting strong movement, either bullish or bearish. No matter how lethargic a market may become, simple candlestick scanning techniques allows investors to pinpoint the powerful moves no matter how few and far between. Out of 10,000 trading entities, candlestick scanning techniques will always provide more profitable trades than most investors can utilize.
Today's positive trading in the Dow and the S&P 500 and the transportation index clearly indicates the lack of any bearish sentiment. The patterns that the bullish trading is creating indicates more upside over at least the next few trading days. The lack of any severe bearish sentiment allows candlestick investors to identify the price patterns that will produce very strong profits. Home Depot is an example of utilizing the combination of candlestick signals and identifying breakout levels that everybody else's watching to dramatically improve the probabilities of being in a profitable trade. The basic element of candlestick analysis is that it puts the probabilities of being in the right positions at the right time. This is based upon one simple factor. Human nature works the same way time after time.
We will conduct a "Members Only" chat session tonight at 8:00 pm EST.
The Candlestick Forum Team
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