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Tim Knight Walks Seven Charts That Just Broke Their Trend Lines
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ticker lesson
Breakdown
0:01EM· ticker
Emerging Markets — trend line failure, 20-year channel
- Sharp ascending channel broken, long bear market followed
- Similar event recently, failed after two-year uptrend
- Price gap anchored to Wednesday's low, delineates overhead supply
2:13EWZ· ticker
Brazil ETF — trend line shift, election gap
- Uptrend intact since liberation day bottom
- Gap created by election, resistance now former support
- Trend line has significant power, gap likely to burn off
4:32FXI· ticker
China ETF — long-term uptrend failed, right triangle pattern
- Uptrend started late 2023, formed topping pattern
- Stuck below descending trend line, new gap formed
- Long-term target at 27, slowly working there
6:47IWM· ticker
Small Caps — failed trend line, resistance at red line
- Uptrend broken, red line changed to resistance
- Failed trend line, fell, rallied, touched underside
- Most meaningful resistance is red line drawn
6:48XLF· ticker
Financials — long-term trend line failed, topping pattern
- Trend line from 2023, finally failed
- Topping pattern formed, Thursday's high as resistance
- Failed trend line and topping pattern key
6:49SMH· ticker
Semiconductors — multi-year uptrend failed, resistance at Wednesday's low
- 18-year uptrend, sharp rise due to AI
- Cracked multi-year ascending channel, now below it
- Wednesday's low as key resistance, failure most important event
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