As of 09/27/2022
Indus: 29,135 -125.82 -0.4%
Trans: 12,153 +153.95 +1.3%
Utils: 934 -19.25 -2.0%
Nasdaq: 10,830 +26.58 +0.2%
S&P 500: 3,647 -7.75 -0.2%
|
YTD
-19.8%
-26.2%
-4.7%
-30.8%
-23.5%
|
 32,000 or 29,200 by 10/15/202213,800 or 11,800 by 10/15/2022990 or 900 by 10/15/202211,975 or 10,700 by 10/15/20223,800 or 3,500 by 10/15/2022 |
As of 09/27/2022
Indus: 29,135 -125.82 -0.4%
Trans: 12,153 +153.95 +1.3%
Utils: 934 -19.25 -2.0%
Nasdaq: 10,830 +26.58 +0.2%
S&P 500: 3,647 -7.75 -0.2%
|
YTD
-19.8%
-26.2%
-4.7%
-30.8%
-23.5%
|
|
32,000 or 29,200 by 10/15/202213,800 or 11,800 by 10/15/2022990 or 900 by 10/15/202211,975 or 10,700 by 10/15/20223,800 or 3,500 by 10/15/2022 | |
Released 11/29/2021.
Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.
What chart patterns can you find? Look for the following (if you find others, great!): symmetrical triangle, falling wedge, broadening top, triple bottom, big W.
Price has broken out downward from the falling wedge.
Answer 1 (buy?): Sell short, if you dare, because of the downward breakout.
Answer 2 (target?): I would expect price to decline to the flag at A, a knot of support that might cause a pullback. After that, I would expect a continued decline because the odds favor it (53% of the time).
Answer 3: If price closes above the top trendline, then I would close out my position.
Price made a lower low the next day but then gapped up to close above the top trendline. That would be the exit signal. A downward breakout followed by a quick reverse is common behavior for falling wedges, since it happens 31% of the time. That may not sound like much until it happens to a stock you have shorted.
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