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?
For me this week’s chart is a clear continuation pattern to the upside.
Prices broke out of a massive base, quickly met our first upside objective, and then consolidated in a classic “bull flag” pattern.
If prices are above the upper end of this flag, we need to be buying this breakout all day.
Click on chart to enlarge view.
This is one of the cleanest charts I see out there and is part of an important theme, so I’m curious what you all think. Is it as clear of a buy as I think it is?
Tweet me @BruniCharting or email email@example.com and check back in Thursday to find out what this chart is and why I’m very close to making it my Valentine this year.