June 2006
Beginner
352 pages
7h 6m
English
book
Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
by Michael N. Kahn
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Spikes
These are the opposite of the rounded reversals as they are very sharp (see Figure 10.9). If the saucer is a pudgy “U” shape, spikes are skinny “V” shapes. Some rapid shift in sentiment triggered by news or inter-market changes smacks the market.
Spikes are also difficult to manage so you will need to analyze what was happening just before the spike itself. Was there a divergence in some of the indicators? Did the market’s trend suddenly accelerate going into the spike (Figure 10.10) or was it fairly flat (Figure 10.11)? The former might indicate a panic in the market while the latter might indicate ...
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