The next chart shows records of only the closing prices of the stock or commodity. The open, high, and low are not used; one merely records each day’s close and tries to determine the trend from there. This is a simple way of following markets, but it leaves a lot of information out. In a market that does not have wild swings such a presentation of the data works quite well. The rub is that price may close at 60 today and close at 85 tomorrow. Since we cannot take action until the close at 85 we missed 25 points of intraday market movement. That’s too much for me to miss. Figure 14.3 is such a chart.