Monday, December 30, 2013 9:23:53 PM
Japanese Candlesticks for the market (I use the S&P 500) is still bullish. The last pattern confirmed was a Bullish One White Soldier on Wednesday Dec. 18, 2013 which revealed itself on Thursday Dec. 12, 2013. Since then there has been 2 bearish candlestick patterns that have been revealed but not confirmed, the latest one being a Bearish Doji Star. That pattern was shown on Monday Dec. 23, 2013. From reading the candlesticks, we could expect a continued uptrend until the last bearish pattern is confirmed or a new bearish pattern reveals and confirms itself.
Japanese Candlesticks for the financial sector (I use the (XLF) ETF to gauge this) is still bearish. On Friday Nov. 29, 2013 the candlesticks revealed a Bearish Engulfing. On Monday Dec. 2, 2013 that pattern was confirmed. Since then there has been 1 bullish candlestick patten reveal but not confirm itself on Wednesday Dec. 18, 2013. From here, we could expect a continued downtrend until the recent pattern confirms itself or a new bullish pattern reveals and confirms.
Good luck to all, Gulley
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