Mystery Chart 01-22-2019

JC Parets
January 21, 2019

From the desk of Tom Bruni @BruniCharting

Last week was our first Mystery Chart and Reveal Post of 2019.

This week we're doing that same exercise with a new chart, x and y-axes and and all labels eliminated to minimize bias. As a reminder, this chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted or a custom index.

For those thinking "I know what that is!", I'll save you the time and say you're wrong. Instead, tell me what you would do with it right here.

Buy, Sell, or Do Nothing?

For me I see a shift from an uptrend to a sideways trend. The 200-day moving average is flat, and while prices made new 52-week lows, they quickly reclaimed former support and are settling back into this wide range. Until it resolves itself in one direction or another, neutral appears best.

Click on chart to enlarge view.

That's how I see it, but what about you?

Tweet me @BruniCharting or email bruni@allstarcharts.com and check back in Thursday to find out what this chart is and why it's relevant.

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