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After October 26 earnings, four patterns broke to the downside (listed in the upper right hand corner of the chart). The market's RESPONSE to yesterday's release of earnings was:
1. The Bear Flag targets of 7.81 and 7.39 both got MADE.
2. The gap down Crash opening was below 18 months' worth of price support.
3. The validated 5-year up trendline in the monthly chart was broken on an intra-month basis.
There never is any guarantee that targets will get MADE, but XING has tracked well since the bullish W-Bottom upside breakout on September 21. A total of 10 targets on the upside and the downside have gotten MADE (listed in the bottom right hand corner of the chart) in the past three months.
As long as it trades below 8.18 (the up trendline in the monthly chart), XING is bearish in all time-frames. Above 8.18, the monthly chart is neutral.
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