22nd Aug 2011–Pattern Study–NASDAQ & FXI.

Ticker:

 

1. NASDAQ, FXI

 

Topic:

 

1. Was the Crash of August 2011 obvious??

 

Lesson Learnt:

 

1. Yes!
2. Multiple top formation happened to NASDAQ 4 to 5 year weekly chart with a trend line that clearly crossing the point where downturn is confirmed.
3. This scenario did not happen to DJIA and SPY.
4. Next time, in weekly analysis all 3 indexes have to be scanned under the 4 to 5 years weekly chart so that such a crash can be seen easily.
5. Multiple top formation also occurred in FXI 4 years weekly chart with the trend line crossing right at the tip of the Crash.
6. Everything is so obvious and I just did not see it.

 

Intraday Chart

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Historical Chart