Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, December 26, 2017

C Double Tops At 8-Year Chanel Line

Citigroup has maintained a nearly perfect two year ascension channel (shown in red).  I'm only showing the past seven years due to auto scaling issues from C's long term chart.



click on image to enlarge




While C also operates in a wider black line channel, you can see that the upper line of the blue channel is key and it just double topped at that line in the past three months and posted a shooting star on the second peak of the double top.  This is not bullish.


Trade well my friends

Alan




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