Don't Ignore This Chart!

Nordstrom Tests Support as CCI Plunges

 | 

Nordstrom (JWN) surged last week, but gave back these gains with a sharp decline the last six days. JWN is now testing support from the late September low. Momentum abruptly shifted as well. Notice that CCI plunged below -100 and this may signal that a new downtrend is emerging for JWN.

121025jwn
Click this image for a live chart.

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus