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This Element is an excerpt from Technical Analysis Plain and Simple: Charting the Markets in Your Language (9780137042012) by Michael N. Kahn, CMT. Available in print and digital formats.
Discover the little-known technical patterns that reveal when the market's headed sideways.
Markets go up and down, but they also go sideways. Both bulls and bears can lose their desires to buy and sell aggressively as value is established. They wait for the next clues the market will leave as it decides where it wants to go next. Just like a car, trending markets must rest occasionally to refuel. Their "rest stops" are called congestion zones....