Note that the Breakout Indicator is Now Reaching Into Overbought Territory

By: Marty Chenard | Fri, Jan 25, 2013
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It's courtesy day again where we will share one of our subscriber charts that we have been posting in the past few weeks.

This particular chart was posted last Friday, and is a bar chart with a proprietary Ribbon Chart and Breakout Direction Indicator.

This particular model is in our final research phase, but for now, we can say that the use of this Ribbon Chart along with the Breakout Indicator helps eliminate the "noise level" that can be confusing to investors when the daily bars are highly volatile at junction changes.

Like last week, I am not going to explain this chart today, because even if you are not a technician, you either "get it or you don't", it is that simple to understand. FYI ... do note that the Breakout Indicator is now reaching into overbought territory.

So, take a look at today's chart, enjoy it, and have a great weekend.

bar chart with a proprietary Ribbon Chart and Breakout Direction Indicator

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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