Rambus Weekend Report…
“In this Weekend Report I would like to update all the portfolio stocks so you can see how they have been progressing in one of the greatest bull markets of all time. As you’ll see there are many bullish rising wedges, in many different sectors, that have been talking to us.
As I’ve mentioned many times in the past, these bullish rising wedges are no different than any other consolidation pattern as far as measuring for a price objective. The one big difference that these patterns that slope in the direction of the trend, in this case up, they tell you the trend is very strong because investors don’t want to wait for cheaper prices to get in. So instead of a normal correction like a bull flag that slopes down against the uptrend, or a triangle or rectangle which just trade sideways, a bullish rising flag or wedge can be viewed as a running correction. Most of the time you’ll see a negative divergence on the RSI which keeps a lot of investors on the sidelines.
I’ve tried to keep it simple by taking an initial position on a breakout from what looks like a good chart pattern with the second position on the backtest. The background noise can be deafening at times which can cloud your mind to what is reality. The more opinions one tries to look for to match what they believe is happening the more confused they can get with information overload. From a Chartology perspective as long as the bullish consolation patterns continue to buildout and the price actions keeps impulsing higher I have to stick with what is real. The inevitable top is coming which is going to lead to a major correction in the secular bull market, but until we see some type of reversal pattern building out the trend is your friend.”
For Members
https://rambus1.com/2018/01/21/weekend-report-148/
“The bottom line is that today January 21st, the US stock markets, stock markets around the world and commodities in general are in a bull market. Maybe that will all change tomorrow, but with big chart patterns it will take a lot of work to reverse these bull markets which will take time to do. Big trends don’t turn on a dime. Have a great weekend. All the best…Rambus”