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Bulkowski's Blog Archive: FXI
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As of 12/13/2019
Indus: 28,135 +3.33 +0.0%
Trans: 10,776 -13.65 -0.1%
Utils: 857 +7.17 +0.8%
Nasdaq: 8,735 +17.56 +0.2%
S&P 500: 3,169 +0.23 +0.0%
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YTD
+20.6%
+17.5%
+20.2%
+31.6%
+26.4%
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28,600 or 27,400 by 01/01/2020
11,300 or 10,500 by 01/01/2020
880 or 830 by 01/01/2020
9,000 or 8,400 by 01/01/2020
3,250 or 3,075 by 01/01/2020
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|
As of 12/13/2019
Indus: 28,135 +3.33 +0.0%
Trans: 10,776 -13.65 -0.1%
Utils: 857 +7.17 +0.8%
Nasdaq: 8,735 +17.56 +0.2%
S&P 500: 3,169 +0.23 +0.0%
|
YTD
+20.6%
+17.5%
+20.2%
+31.6%
+26.4%
|
28,600 or 27,400 by 01/01/2020
11,300 or 10,500 by 01/01/2020
880 or 830 by 01/01/2020
9,000 or 8,400 by 01/01/2020
3,250 or 3,075 by 01/01/2020
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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 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).
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
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.
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