P&F Chart School

[Bquat]

Thanks guys. I saw this just now and had to borrow it to confirm my guess.

 

[James48843]

P.S.- just a quick note- that the S&P 500 's P&F chart is now showing a BEARISH PRICE OBJECTIVE of 1500.



That's down from the 1520 that is was on Wednesday last week.

Expect more sizeable downside ahead if you believe the P&F chart's signals.

Here is the link to the complete "Stockcharts.com" charts today:
http://stockcharts.com/freecharts/gallery.html?$SPX

Enjoy.

Good luck.

 

[James48843]

Price objective slipped a bit more. Now showing as 1480.


Down she goes.....

 

[James48843]

This is really interesting. There was a whole lot of resistance today at the 1560 mark. It bounced off that level hard today.

Let's see if tomorrow that 1560 mark can hold again. If it does, then I am not sure we'll break downward to the 1480 level that is showing- We MAY have a new resistance level in around 1560ish, and perhaps a buying opportunity there. We'll have to wait and see what tomorrow brings.

 

[RealMoneyIssues]

Looks like it is time to go long...

 

[JTH]

Like they say, small caps lead the way...

View attachment 24481

 

[James48843]

Thanks guys for noticing- I'm sorry I missed it yesterday- but you are right, double-top breakout back into the postive price objective means time to move back over into stocks. I missed it as I am in Europe right now- and didn't catch it due to time zone differences. (In UK this week).

Moving the P&F Chart C back into stocks before noon today.

Good luck.

 

[Viva_La_Migra]

High pole warning issued yesterday.



Good luck.

 

[rcknfrewld]

What does a high pole warning indicate...burro not you

 

[k0nkuzh0n]

Price objective slipped a bit more. Now showing as 1480.


Down she goes.....

Looking back, we never got close to 1480

 

[JTH]

What does a high pole warning indicate...burro not you

The high pole warning is given when a chart rises above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise. The reversal implies that the demand that was making the prices rise has given way to supply pressure. The pattern is a warning that lower prices could be seen in the future.

 

[James48843]

I am watching closely now to see if the price objective changes.

Pay close attention- could be any day now that it does, which would trigger a move out of stocks.
So far it's still maintaining in equities- but could flip a any time.

 

[James48843]

This cycle up is just lke the energizer bunny.


It keeps going, and going, and going.

Triple Top breakout last week Thursday (on the Government reopening), and still is climbing.


I am looking for the right time to jump off the elevator, but this isn't it.

Hanging on for dear life.

Up she goes.....

 

[James48843]

Just a heads up to you P&F chart followers-

Yesterday, the S&P 500 P& F chart broke it's upward climb for the first time in a long time.

Here is the chart:



The last time we got a small relief like this on the P&F chart was back in around May- and every downtick since has been small, only like three or four boxes down. I am seriously looking at maybe one more down day, and then jumping back in myself. Not sure yet though- but it was enough of a noteworthy even that I thought I would put it out there.

Good luck.

 

[James48843]

Dang! Now I am REALLY confused.

A few days ago I saw the "S" fund P&F chart break down and post a negative price objective, indicative of the market turning lower ahead.

However, the S&P -500 chart had not yet turned, so I was waiting to see it go south before issuing a "SELL" signal on the P&F chart.


So now I am REALLY confused.

Yesterday, BEFORE the Fed annoucement of a taping of QE3, the market fell enough that the S&P-500 P&F Chart switched direction, registerd a new "double bottom breakdown", and a negative price objective was created. That's indicative of a lower stock market ahead. And sure enough, the P&F Chart created that signal yesterday!




BUT:

Since the FED made the announcement yesterday that they are going to start easing off the pouring in of liquidity, that announcement resonnonated across all the markets yesterday, and everything shot higher.

So......are we about to get a downturn, as the CHART indicates?

-OR-

Did the FED announcement provide enough of an incentive that we are about to get our Santa Rally after all?

Ho Ho Ho...




(Sigh- if this was easy, we'd all be rich, wouldn't we?)

 

[JTH]

IMHO the PnF charts are telling us we are in a 1770-1810 trading range. Which ever of those boxes gets violated first, should be the dominant direction the markets will take.

 

[JTH]

TTB

 

[Bquat]

TTB

In COB for TTB

 

[Birchtree]

TTB = triple top breakout I presume. We are currently in what is often the most bullish of all the patterns, a 3rd of a 3rd of a 3rd. It's uncharted territory from here on out with no overhead resistance. Are we in the start of another melt-up that will carry into 2014.

 

[James48843]

Shucks-

yep- triple top breakout--but I wasn't near a computer today till now. .

price objective at 1930.

I'm going back into the pool...