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Technical Analysis of Stock Trends | The Foundation Upon Which Technical Analysis is Built – WHC Bassetti
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Price breaks out…

Posted on Sep 05, 2019 by .

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http://schrts.co/fuyjKHJs The SPX jumped 23 points in a powerful exit from the long standing rectangle. (22 trading days).  Conservative investors may wait for confirmation — that would be a new high.  More aggressive traders  will buy  the breakout.   The trade may be evaluated — or criticized — as being a knee-jerk reaction to news.  Excessive […]

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One tweet values 623 points?

Posted on Aug 25, 2019 by .

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http://schrts.co/aMxqKSxY As we were saying–the primary hazard of this market  (so far) is extreme surprise volatility.  While we have drawn a downwave trendline here we would be very chary of betting on a breakout of that line.  Rather an aggressive trade would be trading a clear breakout of the rectangle as indicated by the horizontal […]

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Bizarre bungee markets…

Posted on Aug 18, 2019 by .

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  A line chart which shows the volatility close to close. The recent days have been in some cases historic and bizarre.  So much so that we made a note of the daily ranges, which are to say the least, unusual:   562 (7/31),  626, 735,  632, 345, 354, 593, 536, 564, 593, 1300 (closed down about 800 (that is) 3% a […]

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Nasty nasty charts……

Posted on Aug 05, 2019 by .

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http://schrts.co/BqHgjEIa With midday charts of Monday, not yet updated with the 700 point drop.  But you don’t need the real time update to see the wall (the Trump wall?) the market has hit.  True for the INDU and the SPX.  The more meaningful story is told by AMZN. http://schrts.co/FfFwjZae http://schrts.co/RRbQjDuh There is some nasty political […]

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Ambiguous double top…

Posted on Jul 21, 2019 by .

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http://schrts.co/wuWAJSNw This double top is 588 points deep.  That forecasts a downside target of 1763.  IF…  If it is fulfilled and if its significance has not been canceled by the two waves at the end.  Wykoff practitioners might interpret this latest wave as a UTAD (or upthrust after distribution). It is worth noting that the […]

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