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Bulkowski's Blog Archive: FXI
Class Elliott Wave Fundamentals Psychology Quiz Studies Setups Software Tutorials More...
Busted
Patterns		 Candles Chart
Patterns		 Event
Patterns		 Small Patterns
As of 05/26/2020
  Indus: 24,995 +529.95 +2.2%  
  Trans: 8,896 +425.52 +5.0%  
  Utils: 769 +5.10 +0.7%  
  Nasdaq: 9,340 +15.63 +0.2%  
  S&P 500: 2,992 +36.32 +1.2%  
YTD
-12.4%  
-18.4%  
-12.5%  
 +4.1%  
-7.4%  
  Targets    Overview: 05/13/2020  
  Up arrow27,000 or 24,000 by 06/15/2020
  Up arrow9,800 or 8,200 by 06/15/2020
  Down arrow700 or 800 by 06/01/2020
  Up arrow9,800 or 9,000 by 06/15/2020
  Up arrow3,100 or 2,650 by 06/01/2020
CPI (updated daily): Arrows on 5/15/20
As of 05/26/2020
  Indus: 24,995 +529.95 +2.2%  
  Trans: 8,896 +425.52 +5.0%  
  Utils: 769 +5.10 +0.7%  
  Nasdaq: 9,340 +15.63 +0.2%  
  S&P 500: 2,992 +36.32 +1.2%  
YTD
-12.4%  
-18.4%  
-12.5%  
 +4.1%  
-7.4%  
  Targets    Overview: 05/13/2020  
  Up arrow27,000 or 24,000 by 06/15/2020
  Up arrow9,800 or 8,200 by 06/15/2020
  Down arrow700 or 800 by 06/01/2020
  Up arrow9,800 or 9,000 by 06/15/2020
  Up arrow3,100 or 2,650 by 06/01/2020
CPI (updated daily): Arrows on 5/15/20

Written by and copyright © 2005-2020 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 © 2005-2020 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...