Proverbial ‘Gut-Check’

For those fortunate enough to have the David Weis video on ‘Trend Reversals‘, he discusses a particular market characteristic:

The ‘Gut-Check’

Instead of attempting to describe the phenomenon, we’ll just show what a (potential) move looks like with Wells Fargo, below.

Wells Fargo, WFC, Daily

There it is.

Is it a reversal, or a ‘gut-check’ test?

It’s important to note, the ‘Up-Thrust (reversal)’ location was all-time highs for WFC.

Remember, 86.66?

That post is here.

Stay Tuned

Charts by StockCharts

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