PLS chart, page-20668

Hi Folks

I track the LIT eft as an indicator (not perfect, but better than anything else) to the LIT sector.

ALB is the biggest company component of the eft making up 9.6% so I track them firstly and then a range of others.

The ALB chart below is very interesting and its a pattern I have seen often across a whole range of stock.

With a series of descending waterlines ranging in length. A leak from a higher waterline, then skipping/splashing along the new lower waterline. There can be the occasional dip and even sometimes a dive below then to return above the surface. In so many of the descending waterline charts there seems to be an almost inevitable return to the higher waterline (as happened in ALB's chart) before returning to the current waterline.

The leaks when they happen are obvious, as per the green leak on my chart.

ALB has been skipping along the top of an unfilled gap (106.33-113.07) , there was a dip to partially fill the gap but then returned to the surface.
Fascinating to watch.

Tianqi (002466) ,SQM, Ganfeng(1772) and BYD(1211) have leaked recently, CATL (300750) has had a couple of dives below and is currently in a bounce phase.

The LIT eft follows the same pattern and it leaked in January. and seems to formed a new lower waterline near 39-40. Lit has an unfilled gap at 37.70-38.04 so expect some skipping along the new waterline with the next leak to fill the gap.

China's new market regulations, just recently introduced, could show up in the charts it there is a persistent trend change. we shall see?

Just something a bored chartist plays with. DYOR

cheers Lies