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Emails arrived from all over the world in response to our latest "What do you see in this chart?" quiz. The goal of the series is to see patterns in charts, without knowing the asset, price or timeframe. Here again is the quiz chart, followed by an annotated version.
Thanks to everyone for the quality answers and excellent comments.
Today's answer is an asset that's been in the news of late — the Homebuilder ETF (XHB). As the chart shows, multiple support lines come into play at (1). Buy on support with a tight stop.
If support breaks and you want to score on defense, consider a position in SRS (the inverse REIT).
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