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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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Create Your Own ETF Hedge Fund, a DIY ETF Strategy for Private Wealth Management.
  • False Breakout On Dow 0 comments
    Feb 27, 2012 10:01 AM | about stocks: DIA, VIXM

    Now, before you go running to your keyboard and hit the "Sell Everything" button, let me walk you through what to expect.

    First, let's look at the price action since the August selloff.

    We have three consolidation patterns (blue dashed lines) on the chart after the August selloff. The August through October consolidation was an extreme condition with very high volatility which lasted about 10 weeks. The red circle highlights the final battle of the bulls and the bears. The bears fell and we see a long breakout candle signifying the bull's victory. A decisive breakout.


    Stocks: DIA, VIXM
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