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Bulkowski's Blog Archive: FXI

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As of 12/06/2019
  Indus: 28,015 +337.27 +1.2%  
  Trans: 10,709 +133.66 +1.3%  
  Utils: 855 -1.82 -0.2%  
  Nasdaq: 8,657 +86.13 +1.0%  
  S&P 500: 3,146 +28.48 +0.9%  
YTD
 +20.1%  
 +16.8%  
 +19.9%  
 +30.5%  
 +25.5%  
  Targets    Overview: 11/29/2019  
  Up arrow28,600 or 27,600 by 12/15/2019
  Up arrow11,300 or 10,500 by 12/15/2019
  Up arrow875 or 830 by 12/15/2019
  Up arrow8,900 or 8,400 by 12/15/2019
  Up arrow3,250 or 3,075 by 12/15/2019
As of 12/06/2019
  Indus: 28,015 +337.27 +1.2%  
  Trans: 10,709 +133.66 +1.3%  
  Utils: 855 -1.82 -0.2%  
  Nasdaq: 8,657 +86.13 +1.0%  
  S&P 500: 3,146 +28.48 +0.9%  
YTD
 +20.1%  
 +16.8%  
 +19.9%  
 +30.5%  
 +25.5%  
  Targets    Overview: 11/29/2019  
  Up arrow28,600 or 27,600 by 12/15/2019
  Up arrow11,300 or 10,500 by 12/15/2019
  Up arrow875 or 830 by 12/15/2019
  Up arrow8,900 or 8,400 by 12/15/2019
  Up arrow3,250 or 3,075 by 12/15/2019

Written by and copyright © 2005-2019 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners.

Blog Posting: February 15, 2008, FTSE/Xinhau China 25 Index Fund (FXI)

The China ETF appears and shows a symmetrical triangle

The chart shows the China ETF and it is one of indecision. In the last month, the fund has entered what looks to be a symmetrical triangle formed by two converging blue trendlines.

I drew the green line along the bottom of the triangle, backward in time to the congestion area in July. Along the tops, I drew a red line. This line represents overhead resistance.

If the ETF does break out upward, then look for it to throwback at the red line especially since it coincides with the three valleys in November and December (numbered).

 

 

Top 

The China ETF appears and shows a symmetrical triangle

FXI Aftermath

The breakout from a symmetrical triangle can be in any direction and when it does breakout, price sometimes retraces its move, dropping out the opposite side of the original breakout.

That is what happened here. Price closed above the top trendline and then reversed, moving below the bottom of the pattern. On a happier note, price rebounded and when it touched overhead resistance shown by the red line, the ETF reversed, just as I predicted.

-- Thomas Bulkowski

 

 

 

See Also

Written by and copyright © 2005-2019 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners. Welcome to Psychiatric voice mail. If you are paranoid delusional, we know who you are, what you want, and we have already traced this call...