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A Beginner's Guide to Charting Financial Markets: A practical introduction to technical analysis for investors by Michael Kahn

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8. Examples

This chapter is the workbook portion of the book and presents many chart examples. Try to form an opinion on your own before reading the text for each.

Chart 8.1

The Standard & Poor’s 500 is shown here at the end of the bear market of 2000-2002 (see Chart 8.1). On the left of the chart is the steep decline leading to, and following, the September 11 attacks. Volume during that decline surged to panic levels and the implications from the price and volume data alone suggested extreme pessimism. Investors were selling stock with abandon with a “get me out at any price” mentality.

That marked a temporary bottom, but in 2002 the ...

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