Viva_La_Migra
Well-known member
Double Top Breakout issued yesterday. Bullish Price Objective: 1590. Your mileage may vary. Good luck people!
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P&F Chart School
- Thread starter James48843
- Start date
James48843
Well-known member
Good Catch Viva! Sorry- I wasn't paying attention and I missed it today.
Will move the P&F Chart C holdings into the S&P 500 tomorrow.
Let's get it moving!
Thanks, and good luck!
Will move the P&F Chart C holdings into the S&P 500 tomorrow.
Let's get it moving!
Thanks, and good luck!
James48843
Well-known member
Just an FYI-
Today the P&F Chart for the S&P500 FINALLY flipped a reversal. The "price objective" has not changed, so I do not yet expect anything other than a nice retraction for a while- down perhaps half the distance to the last up side. But it triggered today and I'm posting the reversal here now:
Looking it over with my Mark I eyeball, I'd say I expect initial light resistance at 1470's, heavy resistance at 1440's, and a floor at 1420 if it doesn't stop before then. Generally, I'd say there is at least a 40% chance that we'll stop at the 1470 mark and turn around, and at least a 70% chance we'll turn around before 1440. That's my 2 cents today.Personally I'm sitting in "G" right now waiting for the right spot to jump back in.
Good luck.
Today the P&F Chart for the S&P500 FINALLY flipped a reversal. The "price objective" has not changed, so I do not yet expect anything other than a nice retraction for a while- down perhaps half the distance to the last up side. But it triggered today and I'm posting the reversal here now:
Looking it over with my Mark I eyeball, I'd say I expect initial light resistance at 1470's, heavy resistance at 1440's, and a floor at 1420 if it doesn't stop before then. Generally, I'd say there is at least a 40% chance that we'll stop at the 1470 mark and turn around, and at least a 70% chance we'll turn around before 1440. That's my 2 cents today.Personally I'm sitting in "G" right now waiting for the right spot to jump back in.
Good luck.
James48843
Well-known member
Again, yesterday's strong morning, followed by a sinkhole at the close after the Senate rejected the sequestration bill, means we're diving into unchrated territory. A sea of uncertainty ahead. My gut (and the P&F chart) seems to be saying a fall to the 1470 range is likely in the very near future.
Will it be so? Who knows.
Here is this morning's foreboding P&F chart:
I'm thinking we open down this morning. Hang on (I'm on the sidelines now, waiting for a good spot to jump back in) and let's see where she goes.
Good luck.
Will it be so? Who knows.
Here is this morning's foreboding P&F chart:
I'm thinking we open down this morning. Hang on (I'm on the sidelines now, waiting for a good spot to jump back in) and let's see where she goes.
Good luck.
JTH
Well-known member
Bquat
Well-known member
Still waiting and still relevant.Sure would like to see the April's chart with these new highs.It should be out close of business Monday or do they do it for Monday?
JTH
Well-known member
Still waiting and still relevant.
Sorry my friend, I canceled my subscription to stockcharts.com however, the free version does give you the Daily & weekly view. There is very little to say because we are in an area with little historical data from which to judge support/resistance levels.
View attachment 23274
James48843
Well-known member
Ascending triple-top breakout today.
Good sign for better -higher ahead.
Now showing a bullish price objective of 1800 on the S&P 500.
The "Triple-top breakout" is a classic bullish indicator.
Read more about it here:
Details:
P&F Bullish Breakouts - ChartSchool - StockCharts.com
Good sign for better -higher ahead.
Now showing a bullish price objective of 1800 on the S&P 500.
The "Triple-top breakout" is a classic bullish indicator.
Read more about it here:
Details:
P&F Bullish Breakouts - ChartSchool - StockCharts.com
James48843
Well-known member
Sorry- but I forget to check the P&F chart two days ago- I just saw this today.
Now showing a breakdown in both the S&P 500 and the "S" fund charts- with negative implications. The S&P 500 double bottom breakdown is showing a reversal now, down to an expected 1580 ahead.
Here is the P&F chart.
That signals that I should have bailed day before yesterday. I'll move it today in the P&F chart mock account in the auto tracker.
Good luck.
Now showing a breakdown in both the S&P 500 and the "S" fund charts- with negative implications. The S&P 500 double bottom breakdown is showing a reversal now, down to an expected 1580 ahead.
Here is the P&F chart.
That signals that I should have bailed day before yesterday. I'll move it today in the P&F chart mock account in the auto tracker.
Good luck.
James48843
Well-known member
Note- that P&F Chart for the S&P 500 just took a another tick down.
The Bearish price objective has now slipped to 1540.
The Bearish price objective has now slipped to 1540.
k0nkuzh0n
Well-known member
We never got anywhere close to 1800. Is that still a longer term target, potentially after the 1540 target, or is the 1800 target irrelevant/invalid now?
James48843
Well-known member
Answer: Irrelevant/invalid now.
Whenever we have a reversal, then everything that was before is erased, and the P&F chart only looks forward to the next price objective. I have no idea what will happen after it reaches 1540. It MAY reverse there. I don't know. It MAY reverse before there. I don't know. The P&F charts are not foolproof- they are simply mathmatical models that historically have had usefulness in deciding which way things are going.
Your mileage may vary.
Past performance is no indicator of future results.
Do not try this at home.
Except in Nebraska.
Viva_La_Migra
Well-known member
Looks like that reversal happened quicker than was originally thought. Current bullish price objective 1740. Good luck.
James48843
Well-known member
I really think that was a fluke yesterday with the 138 point upside- and it will reverse again shortly with another big down stroke. I really see us dropping at least another 2% from here, and probably far more.
We'll see in a couple days if yesterday was a fluke, or it's all about to dive downward. I 'm out, and banking on a downtick here. .
good luck.
We'll see in a couple days if yesterday was a fluke, or it's all about to dive downward. I 'm out, and banking on a downtick here. .
good luck.
Viva_La_Migra
Well-known member
Me too, but I'm hoping for a larger dive, like maybe 5% or more.
James48843
Well-known member
Yep- yesterday was just a fluke.
We just got a "double-bottom breakdown" again today and a new, bearish price objective down to 1520.
That coorelates with the 1540 signal from June 5th - and is also consistent with the "Hindenberg Omens" we got last week and the previous weeks.
Elevator going down. No question in my mind about it, anyway. 1520 next stop?
Looks pretty solidly nasty.
See you down below here.
We just got a "double-bottom breakdown" again today and a new, bearish price objective down to 1520.
That coorelates with the 1540 signal from June 5th - and is also consistent with the "Hindenberg Omens" we got last week and the previous weeks.
Elevator going down. No question in my mind about it, anyway. 1520 next stop?
Looks pretty solidly nasty.
See you down below here.
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