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September 6th Market Wrap-Up

Candlestick charts reveal more distinctly what is the nature of the market trend. The Dow continues to trade above the T line, the transportation index is trading above the T line. The S&P 500 is trading just below the T line and the NASDAQ was selling off relatively hard today. What does this dichotomy indicate? There is not any major change of investor sentiment in the overall market trend, but there is definite sectors moving positive and others moving negative. These market conditions allow investors to make money both on the long side and the short side. Having both long and short positions in the portfolio continues to be profitable and it protects from any major market move one direction or the other. The slow uptrending nature of the overall market is producing good profits trading in both directions.

Candlestick charts work effectively on all trading entities. October lean hog's produced good profits today based upon very simple candlestick analysis. Stochastics coming out of the oversold conditions and the trading of the past few days showed high probability bullish reversal signals. Today's positive gap up through the 50 day moving average made it very clear that bullish sentiment was now in control. Because human nature works the same way time after time, merely identifying simple bullish indicators allows an investor to take advantage of price moves with an extremely high degree of accuracy. There are 12 major candlestick signals and approximately eight candlestick patterns. Once an investor learns what each one of these signals and patterns illustrate, they put themselves in positions where the probabilities of being in profitable are greatly in their favor.



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Good Investing,

The Candlestick Forum Team



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