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What would you do with the situation at (1)? Buy low and look to sell high? I will post the answer to this chart tomorrow.
Send me an email at Kimblechartingsolutions@gmail.com if you would like to share your thoughts on what to do at (1) or would like to know what product this happens to be. Good luck and have fun, I look forward to your thoughts.
Very BOLD call. The Power of the Pattern against the “year-end window dressing” crowd. Will be interesting.
The markets have been opened higher and closed lower, not that bullish thus far but………..
Aleks…if you are referring to the NDX chart, I’m not seeing an H&S at this time. Sorry if I am overlooking it. NDX is at the same price level as it hit back in 2007. see post
https://www.kimblechartingsolutions.com/2010/12/taking-a-swing-at-scoring-on-defense-in-the-ndx-100/
Am attempting to score on defense, due to the NDX/VXN chart and the quiz, with a tight stop, should the NDX break to the upside. Rising wedge would suggest a two-thirds chance of lower NDX prices are ahead.
Chris,
while chart can point to chance of breakout, to me it also looks like potential Head and Shoulders. Am I totally off here?
Thanks
Aleks