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Thomas Bulkowski’s successful investment activities allowed him to retire at age 36. He is an internationally known author and trader with 30+ years of stock market experience and widely regarded as a leading expert on chart patterns. He may be reached at

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Bulkowski's Blog Archive: FXI

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Busted
Patterns
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Market
Industrials (^DJI):
Transports (^DJT):
Utilities (^DJU):
Nasdaq (^IXIC):
S&P500 (^GSPC):
As of 04/21/2017
20,548 -30.95 -0.2%
9,134 7.68 0.1%
706 4.81 0.7%
5,911 -6.26 -0.1%
2,349 -7.15 -0.3%
YTD
4.0%
1.0%
7.0%
9.8%
4.9%
Tom's Targets    Overview: 04/17/2017
20,100 or 21,150 by 05/01/2017
8,500 or 9,500 by 05/01/2017
725 or 685 by 05/01/2017
5,950 or 5,650 by 05/01/2017
2,275 or 2,425 by 05/01/2017
Mutt Winners: None YTD

Written by and copyright © 2005-2017 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.

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

 

 

 

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Written by and copyright © 2005-2017 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. 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...