SUMMARY
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More and more charts from utlities to services to technology are displaying bearish conditions. American Waterworks, Co. (AWK) is no exception given the red halo event that's ongoing. How can these stocks decline into a correction while the DOW and SPX rise? Actually, such is a significant bearish divergence. AWK has likely completed a full impulse fractal up and that means a requisite correction is probably next.
The decline of the blue abc will be the subwaves of the red A. Red B and C would then likely follow. The overall corrective sequence is likely to be a flat. However, the depth of retracement shouldn't be underestimated. The subwaves qualify the higher degree of trend labels.
There is a pattern that could emerge while the ABC sequence runs its course. Can you see the pattern? The H&S pattern is labeled with the LS, H and RS. IF this H&S pattern completes and confirms by volume and price; then the white vertical line represents the minimum price run down.
The MACD should rise a bit for the blue b wave bounce. However, many will likely be fooled into thinking that the correction is already over when rather; it's just begun.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Such a wonderful posts. I'm a fan of @haejin! And I love his posts
Interesting publication, I'm following!
The sad fact is that he never needed you because he always had control of the Ranchorelaxo account. Even so, I'm honestly surprised that upon seeing this comment and the other one that he didn't immediately start upvoting you to get your rep back. I would have expected at least that much (even while holding a relatively low opinion of him).
You know, at this point, you'd probably have a better chance of having @berniesanders rebuild your account than @haejin.
True, it is somewhat freeing, isn't it? The reputation system is stupid anyways. Hopefully it will change soon. Polarizing people like haejin and bernie should never have reputation in one extreme or the other.