The next charts show mostly stocks in uptrends with recent breakouts. For example, AMZN broke out on September 8th and this breakout is holding. The ability to hold a breakout in a weak market shows both absolute and relative strength. There are two setups for stocks that are in downtrends overall: TASR and XOM.
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Thanks for tuning in and have a great weekend!
--Arthur Hill CMT
Plan your Trade and Trade your Plan
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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