Mystery Chart 04-10-2019

JC Parets
April 10, 2019

From the desk of Tom Bruni @BruniCharting

New Mystery Chart!

For those new to the exercise, we take a chart of interest and eliminate the x and y-axes and and all labels eliminated to minimize bias. The 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.

The point here is to not guess what it is, but instead to think about what you would do right now. Buy, Sell, or Do Nothing?

Prices are breaking out of a consolidation to the upside, the 200-day moving average is rising, and momentum is back firmly into overbought territory. While not the cleanest setup from a risk management perspective, this is definitely a chart we want to be erring on the long side of.

Click on chart to enlarge view.

To me this looks like a continuation of a long-term uptrend that we want to be participating in, but let me know what you'd do here.

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

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