Friday, January 03, 2014 1:37:56 AM
Japanese Candlesticks for the market is still bullish for the S&P 500 which I use to gauge. 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 turned bullish for (XLF) ETF which I use to gauge. On Wednesday Dec. 18, 2013 the candlesticks revealed a Bullish One White Soldier. On Tuesday Dec. 31, 2013 that pattern was confirmed. From here, we could expect a continued uptrend until a new bearish pattern reveals and confirms.
Good luck, Gulley
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