V.18:2 (56-63):Market Phase And Chart Formation by Chuck Dukas

V.18:2 (56-63):Market Phase And Chart Formation by Chuck Dukas
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Market Phase And Chart Formation

by Chuck Dukas

Some market behaviors are more common during some market phases than others. Take a look.

Certain chart formations are often associated with certain market phases. Each chart has a personality of its own,no two being alike, just as you and I have our own personalities. I assess the movement of stocks in four phases (accumulation,markup,distribution, and mark- down), and the crossing of the 50-period simple moving average (SMA) indicating an intermediate bullish or bearish trend exists. I use two periods of closing price above or below the 50-period SMA to confirm the move.

During the markup and distribution phases, prices must be above the 50-period SMA, whereas during the distribution and markdown phases, prices must be below. I associate buying with the accumulation and markup phases and selling with the distribution and markdown phases.

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