Tag Archives: drift surge
Surge, drift, flush pattern persists — so far. Don’t snooze off.
Posted on Nov 22, 2009 by WHC Bassetti.
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We are now in the drift part of the pattern after a surprising one day surge at the top. This is better illustrated in the chart below. At the moment there is no sign of the bear wave traders have been hoping for and fearing ever since March 9. Illustrating once more that it is better to read the chart than it is to read the news.
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Noted technical analyst WHC Bassetti has over 40 years' experience in the financial markets and is Malcom S.M. Watts III Adjunct Professor of Finance and Economics at Golden Gate University. He is editor of the Ninth Edition of Technical Analysis of Stock Trends, widely considered to be one of the true classics of market analysis.
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