The Definitive Higher High, Higher Low Setup

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The longer a person has been involved in the stock market, the more you will observe similarities in charts, human behaviour, price movement, booms and busts. One classic observation for me has been the continuous types of formations that occur during the recovery stage following a savage downturn in prices.

In particular I have observed the similarity in the bottoming action that occured after the 1987 market crash, the Tech Wreck, the global financial crisis in 2008/9 and that which is occurring during the 2020 Covid-19 pandemic. I am continuously amused by the all consuming public debate regarding whether “the market” is going up or down during these market downturns.

My first point is that the market cannot go up or down without individual stocks leading the market up. Indices do not move on their own. Concentrating on individual stocks is far more productive that trying to predict index movements.

My second point is that it is the higher priced/quality stocks that pull the Index up, not the more speculative stocks.

Sam ProTrader

Sam ProTrader


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