Monday, January 26th. - Stock Trends, Charts, and Commentary (***If you see last week's Monday Update do a refresh: Click Here)
Important Things to know about Symmetrical, Triangular Patterns ...
The resistance line is down sloping, and the support line is up sloping ... so, they will eventually converge and that point is called the apex.
While traveling toward the apex, the underlying security moves up and hits the resistance line, and then moves down to hit the support line ... only to bounce back up again. This keeps happening until the breakout occurs.
As the resistance and support lines converge, the speed and volatility of the movement increases.
This pattern typically has its breakout at a distance of two-thirds to one-eight away from the apex. This is measured from the start of the formation to the apex.
Are any triangular patterns showing up now?
Actually there are, and we report daily on three of the important ones. They are the VIX, the NYA Index, and the Inflowing Liquidity levels.
SInce Inflowing Liquidity levels is what causes the markets go up or down, we will show you this daily chart today.
Below is the Inflowing Liquidity chart as of last Friday. On this chart, the following can be said:
1. That the Inflowing Liquidity is caught in a triangular pattern bounded by the maroon resistance and support lines.
2. That the Inflowing Liquidity has been accurately bouncing off of its resistance and support lines.
3. That the Inflowing Liquidity is very close to entering its two-thirds, to one-eight distance to the apex now.
It is coming ... so, from the above, we can see that the Inflowing Liquidity levels will breakout anytime between now and the coming weeks. When that happens, the next direction of the market will be built on the breakout's direction.
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