September 27th Market Wrap-up
There are very simple visual aspects of candlestick charts that allow an investor to accurately assess the direction of a trend/price. When the overall markets are trading above the T line, the simple analysis is that the uptrend is in progress. That was illustrated today by the indexes. The Dow and S&P 500 opened positive and closed as a bullish Harami right on the T line. The NASDAQ is demonstrating a frypan bottom that use the T line as a support and is now trading well above the T line. Additionally, when the big stocks such as AAPL and AMZN are also forming bullish patterns, this adds more relevancy to the fact that bullish sentiment is still a predominant. Today, numerous stocks that had been drifting back to the T line demonstrated the T line was acting as support with new bullish signals. This not only conveys buy signals in specific stocks, it also illustrates the overall bullish sentiment of the markets.
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The Candlestick Forum Team
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