WLC Weekly Charts – 11/15/2019

by | Friday, November 15, 2019 - 4:32pm

The following are WEEKLY charts over the last 5 years for the various markets & ETFs we follow. Each chart is a simple line chart, coloured to match my proprietary “FAB” indicator as follows:
Dark Green = Strong bullish;
Dark Red = Strong bearish;
Light Green = Mild bullish;
Light Purple = Mild bearish.

How to use:
It’s a good idea to glance at these weekly charts to see what the longer term trend is before buying based on the related daily charts. Find the latest daily charts by clicking on my name above, or by copying and pasting the following address in your browser: https://publish.optuma.com/author/fabien-ouellette/

That said, weekly charts should be used when your holding period is several months, whilst daily charts should be used for holding periods of weeks. Try to keep an eye on support and resistance levels along with the FAB Indicator to make your decisions.

If the line chart is DARK GREEN and above recent resistance, it’s safe to buy. If Light Green, hold or trim depending on current profit. Light Green often occurs before the Indicator switches to Dark Green – if support and resistance levels agree, you might layer into your target position in tranches (1/3 per week for instance);

If Light Purple, watch support levels closely. Hold or trim profits;

For weekly charts, if the line is DARK RED and below support, sell. You can always get back in.

Have faith in the indicator – it won’t let you down. If it’s dark red, stay away from that market until things settle down. When the indicator returns to light or dark green, you’ll be able to re-enter at a safer price; you might miss the first ~ 5 to 10% up move from the bottom, but you’ll be taking much less risk. Shouldn’t it always be about the risk and reward ratio?

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tsx
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spx
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ewq
dax
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gld
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corn
pall
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fxc
fxe
fxy
fxb
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zre
zpr

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