As of 07/01/2022
  Indus: 31,097 +321.83 +1.0%  
  Trans: 13,289 +132.53 +1.0%  
  Utils: 993 +23.33 +2.4%  
  Nasdaq: 11,128 +99.11 +0.9%  
  S&P 500: 3,825 +39.95 +1.1%  
YTD
-14.4%  
-19.4%  
 +1.2%  
-28.9%  
-19.7%  
  Targets    Overview: 06/29/2022  
  Up arrow32,300 or 29,900 by 07/15/2022
  Up arrow14,000 or 12,500 by 07/15/2022
  Up arrow1,000 or 925 by 07/15/2022
  Up arrow12,100 or 10,750 by 07/15/2022
  Up arrow4,000 or 3,700 by 07/15/2022
CPI (updated daily): Arrows on 6/23/22
As of 07/01/2022
  Indus: 31,097 +321.83 +1.0%  
  Trans: 13,289 +132.53 +1.0%  
  Utils: 993 +23.33 +2.4%  
  Nasdaq: 11,128 +99.11 +0.9%  
  S&P 500: 3,825 +39.95 +1.1%  
YTD
-14.4%  
-19.4%  
 +1.2%  
-28.9%  
-19.7%  
  Targets    Overview: 06/29/2022  
  Up arrow32,300 or 29,900 by 07/15/2022
  Up arrow14,000 or 12,500 by 07/15/2022
  Up arrow1,000 or 925 by 07/15/2022
  Up arrow12,100 or 10,750 by 07/15/2022
  Up arrow4,000 or 3,700 by 07/15/2022
CPI (updated daily): Arrows on 6/23/22

Bulkowski's Polo Ralph Lauren (RL) Trading Quiz


Released 3/30/2022.

RL: Quiz

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.


1 / 4
chart pattern

What chart patterns can you find? Look for the following (if you find others, great!): diamond top and head-and-shoulders top.

The answers are on the next slide.
2 / 4
chart pattern

The PP in April is a weekly pipe bottom shown on the daily scale. The diamond top appears in October and the head-and-shoulders top is on the far right.

This is an exercise in selling. Suppose you own the stock shown above. When do you sell? The head-and-shoulders top has a close below the neckline. The neckline is the blue line drawn connecting the two armpits. That's also the traditional sell signal. But the sell signal has a flaw. What is it?

See the next slide for an answer.
3 / 4
chart pattern

The above chart shows the problem in a modified picture. With steep down-sloping trendlines, you may never get a sell signal using the traditional approach. Is there a better way, a sell point that signals sooner? Yes.

See the next slide for an answer.
4 / 4
chart pattern

Draw a horizontal line even with the right armpit as shown above in red. If you placed an order to sell when price moved below the red sell line, you would have sold at 26.50. This compares to a traditional sell signal of 25.89.

You might even try selling at the green 'sooner sell line' I show above. I haven't tested this one (but have the red one) so I'm not sure how well it works. I drew the horizontal line starting from the left armpit low.

Any time you have a multiple bump pattern, like a triple top/bottom or head-and-shoulders, try drawing a trendline along the peaks and valleys and use them as sell signals instead of the traditional lowest low or highest high. Sometimes, it can get you into a trade or out of one a bit sooner and you'll save money.

The End.

See Also

 
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Chart Patterns: After the Buy

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