3 inverted candles

Hello Marty,

Yes , I can see the three inverted candle days clearly. For your subscribers, what does that mean, what is your take on 3 inverted days, negative , positive, reversal, neutral???

Thanks

JR

Thank you for the question.

The three inverted hammer candles are a negative for the very short term. But, it is also a sign the selling may be abating soon, and we are close to a reversal. We have seen this type of action a few times recently as evidenced by the Nasdaq daily chart.  I am looking for a "pink rally" day or just a really strong session to the upside to start a new attempted rally. I will explain this in a little more detail for everyone on Monday's daily review video.

I sense quite a few people are giving up on this market, and the sentiment is pretty negative. That is typically the time the markets start to pick up. We just need to be vigilant and stick to our daily routines as opportunities will be provided. It is a question of when and not "if."

Regards,

Marty