Mystery Chart 01-15-2019

JC Parets
January 15, 2019

From the desk of Tom Bruni @BruniCharting

One of my favorite exercises in our process is the use of "mystery charts." Essentially, we take out the x and y-axes and and all labels to eliminate any biases. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted.

The point here is to not guess what it actually is (though most of you will try), but instead to think about what you would do. Buy, Sell, or Do Nothing?

From where I'm sitting this chart looks to have transitioned from a downtrend to a sideways trend, with a breakout above resistance required to confirm the start of a new uptrend. As of now I don't see much to do until we get that breakout or prices make new lows.

Click on chart to enlarge view.

I'm going to make this a more regular exercise on the blog. Not only does it give us an opportunity to interact with you all more, but selfishly it provides perspective on other smart people's "less biased" views of a chart that I think is important right now.

So what would you do? Tweet me @BruniCharting or email bruni@allstarcharts.com and check back in Thursday for the big reveal.

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