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P&F Chart School
- Thread starter James48843
- Start date
Viva_La_Migra
Well-known member
Actually, now that a majority of people are getting excited about the stock market, it might be time to head to the sidelines.
James48843
Well-known member
Just a note- the S&P 500 P & F chart signaled a "High Pole Warning" this morning.
An indicator of possible lower ahead.
It has not yet been enough to signal a formal reversal in price objective- so we will just be watching this much closer today and the next several days in case it does.
I also note that the "S" fund chart is doing the same thing- a high-pole warning. The "I" fund chart has not yet flipped to that, however.
Anyway- now is a good time to pay close attention and see where things are going. Stay alert here.
Good luck.
An indicator of possible lower ahead.
It has not yet been enough to signal a formal reversal in price objective- so we will just be watching this much closer today and the next several days in case it does.
I also note that the "S" fund chart is doing the same thing- a high-pole warning. The "I" fund chart has not yet flipped to that, however.
Anyway- now is a good time to pay close attention and see where things are going. Stay alert here.
Good luck.
James48843
Well-known member
I am not sure- I have to go study my notes. I am thinking that we'll see the reversal show up after the market closes. It really doesn't matter to us now until noon cutoff tomorrow anyway.
I would note that Tom posted a real nice chart comparing this 2013-2014 run up to the 1929 stock market.
I'll have to go dig that up.
James48843
Well-known member
Yep- looking ugly. Double bottom breakdown and a negative price objective showing at 1640.
That parallel to 1929 is eerie, isn't it?
That parallel to 1929 is eerie, isn't it?
JTH
Well-known member
James48843
Well-known member
Bull Trap on the S&P 500 this morning.
Makes it MUCH harder to figure out which way we are going next. Could be either direction.
See P&F Bull & Bear Traps - ChartSchool - StockCharts.com
Makes it MUCH harder to figure out which way we are going next. Could be either direction.
See P&F Bull & Bear Traps - ChartSchool - StockCharts.com
James48843
Well-known member
Nasty.
We flipped today and got a new, lower price objective.
Double Bottom Breakdown.
We flipped today and got a new, lower price objective.
Double Bottom Breakdown.
JTH
Well-known member
James48843
Well-known member
(crosses fingers AND toes- took a hit over the last three months and wants to be all better, and back where we were in January.)
JTH
Well-known member
James48843
Well-known member
Yes, the chart went on the upside back on May 27th, with a forecasted Bullish Price Objective showing of 2040. Whether or not we make it to 2040 - well, I personally think that is doubtful on this cycle, BUT- we now have eleven positive "X"s showing, and I am thinking that because we are so close to the 2000 mark, that we MAY just swing up through that shortly.
But then again-.. well, who knows.
Ride it for what it's worth!
Happy Fourth of July!
http://upload.wikimedia.org/wikipedia/commons/c/cd/Animated_Fireworks.gif
James48843
Well-known member
Oh crap:
It looks like the P&F chart for the S&P-500 changed last night and I didn't see it until just now.
According to the chart, we just got a bearish "Double Bottom Breakdown" yesterday, and that changed the expectation to a new, lower number- back down to 1920 as the preliminary number.
Here is the chart:
This would indicate a SELL signal in the S&P-500 (C fund) under the P&F Fund C method.
Now, I will tell you that for my own personal funds, I have been following a different system, but with THIS indicator, I am thrown for a loss at what I should do. As "The Clash" would say......SHould I stay or should I go?
Not sure what I am going to do personally yet. Maybe I will take a deep breath and flip a coin before noon today.
Good luck-
As always- this is not advice, this is nothing more than a technical report- and YOU are expected to make your OWN decisions about what is best for YOU.
Mileage may vary.
Good luck.
It looks like the P&F chart for the S&P-500 changed last night and I didn't see it until just now.
According to the chart, we just got a bearish "Double Bottom Breakdown" yesterday, and that changed the expectation to a new, lower number- back down to 1920 as the preliminary number.
Here is the chart:
This would indicate a SELL signal in the S&P-500 (C fund) under the P&F Fund C method.
Now, I will tell you that for my own personal funds, I have been following a different system, but with THIS indicator, I am thrown for a loss at what I should do. As "The Clash" would say......SHould I stay or should I go?
Not sure what I am going to do personally yet. Maybe I will take a deep breath and flip a coin before noon today.
Good luck-
As always- this is not advice, this is nothing more than a technical report- and YOU are expected to make your OWN decisions about what is best for YOU.
Mileage may vary.
Good luck.
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