Last post on JNK: https://bartscharts.com/2023/08/16/jnk-august-16-2023/
On the daily chart below the JNK gapped down today and closed below (daily) the two trendlines we have monitoring. On the “good” and “other” scale this is an “other.”
That being said, the REAL trend line that is CRITICAL is the second chart … a daily close below that and we might have the nascent beginnings of a credit event on our hands …
I want a place at the rendezvous of victory. – Aime Cesaire
I’m not getting same chart because of scaling issues. Can you please explain how did you arrive at this scale?
the scaling is always an issue. it is not an exact science and you might need to play w/ the zoom in/ zoom out functions of the chart to get the best fit horizontally and vertically. my ‘cue’ that I have good geometry is by going back to the past and looking to see if those areas held as support as resistance. if they did, then you probably have a good scale and can work harmonics off it … if not, then would play w/ it a little more. we are not curve fitting the chart to fit the data. we are fitting the chart that to the geometry that the security is giving us. unfortunately, seriously, I’ve spent way to many 1000’s of hours on these charts so I believe I naturally just “see it’ and “scale it” – perhaps – subconsciously. who knows … thanks for visiting the site. Bart