Bearish Evening Star Completed!

Exactly as I have mentioned yesterday in my report to paid subscribers yesterday, the market turned around powerfully today following yesterday's extremely dangerous inverted hammer candle. If you don't know why yesterday's candle was such a dangerous one, you really need to sign up for my daily market forecast for only $5 per month or $99 for a lifetime and stop missing actionable analysis and information! If you wish to be on my list for life, please sign up HERE for just a ONE TIME investment of $99!

This is a small part of what I said in yesterday's report to paid subscribers:

"Such a candle suggests that the last of the bullish buying dried up intraday to be taken over by strong

decisive profit taking. This is the kind of candle that usually ends dead cat bounces, especially when the following day is negative as well."

 Yes, the completion of today's market action in combination with yesterday's inverted hammer candle forms another extremely dangerous pattern... an Evening Star formation, which is extremely dangerous when occuring around key resistance levels, which in this case, is the 30MA. What made today's market action all the more negative is the fact that Quadruple Witching days (read more about what Quadruple Witching is about) are typically small candle days with limited range but huge volumes. It is usually not a significant negative day due to all the expiration actions pulling stocks in both directions. The fact that such a day turned out to be strongly negative right off the bat suggests that the market is extremely bearish at this point and this definitely looks like the start of a significant bear trend which, on hindsight, could be labelled the start of the 2016 market crash that might follow a Fed rate hike. 

Investors rushed for safety like scared cattle, depressing bond yields across the board, options traders also completely turned around, bringing total equities put call ratio back in favor of the bears from yesterday's bullish stance. 

More than ever, this is a bearish inclined market, no doubt about it. So, how do you take advantage of such a market for profit? What exactly should you trade and when? Join my Master's Stock Options Picks Service now!

Market Crash Timer: ORANGE

For now, the market turns short term neutral trend within an intermediate bear trend and primary neutral trend.