P&F Chart School

BOOM!

P&F just flipped today with a triple bottom breakdown, and a bearish price objective of 1991.

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I think the downside is far from over .

Be careful out there.
 
What is REALLY fascinating for me- is the "I fund" chart.

While it dropped quite a bit last week, it did NOT yet flip direction, although it DID hit a "triple bottom breakdown" on last thursday, and is set this morning to drop a full 2% or so at the open.

If it does, there is going to be a bloodbath today, and I think it will soon (but not today) be a great buying opportunity.

take a look at where we are, at the CLOSE last week- BEFORE the Greek vote:

Triple-bottom-breakdown.jpg

Once again- this is CLASSIC formation.

Enjoy.
 
Just a quick note-

The EFA P&F chart (I fund) is showing that it anticipates a further 8% drop before it hits is price objective.


The "S" fund equivalent P&F Chart (EMW) is now showing just over a 3% further drop before reaching the bearish price objective.


Good luck to all.
 
Another quick note-

The NASDAQ's P&F chart flipped negative in the last hour- and is now showing about a 24% decline expected before we reach the bearish price objective.

Personally, I think this one is a false reaction, and I think it means there is heck of a "FIRE SALE" today on stock prices- but then again, you never know, do you?

Here is the NASDAQ P&F chart, just for entertainment purposes:


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More incredible down side indicated on the P&F chart today.

S&P 500 showing another 100 points down before the bearish price objective is going to be reached.

Ouch.

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Amazingly, I use a .25% 4-box scale and the current price objective is 1748.64

I'm not a fan of coincidence...
 
Its been a while since I did anything with the P&F Charts-

I noticed last week a High Pole warning on Monday that indicated a falling cycle- and I should have bailed out, but I didn't.
If the P&F chart holds true-we have one more click downward before we get a reversal and a new climb. It's close the to the downside here, but we aren't
quite down yet, IF you believe in these charts.

Of course, I could be wrong.

Have a great day. and Happy 4th of July this week !

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Thanks for bumping this thread James+zip. I always kind of liked the P&F for it's age and simplicity.

PO
 
See, there you have it. I WAS wrong.

Strong upside the last two days says we're going higher again. Despite the "trade war", the P&F Chart is looking exceptionally strong.
 
P&F Chart School

That S Fund just keeps on going, like the energizer bunny. It’s got to be getting tired! Sixteen units vertical without a break. Damn impressive. But it’s gotta be running out of room. I give it one more day north on Monday, and then it’s gotta be going to be exhausted.

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P&F Chart School

Double bottom breakdown. I’m hoping it drags out until Friday or Monday- and it’s actually looking very good to do so. I have my fingers crossed.


I’m thinking I’ll buy back in just below here, maybe the 2100 mark, likely on Monday next week. We shall see. Too early to know for sure, but it looks healthier to me to lose a bit more.

Image1614098107.946013.jpg


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I’m now seeing 2140 as the most likely drop/bottom point /reentry point in the next few days.

If not today, then tomorrow or Monday I am expecting (75% chance) of it hitting 2140, and a 50% chance of 2130, and the just a 25% chance if it going to 2110-2120 range.

If it drops to 2140 on Monday, I’d likely be a buyer.

But that’s just me.

Good luck.

Image1614283010.288085.jpg


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P&F Chart School

Perfect place to buy in coming Monday. It fell down to 2089 for a brief instant thus morning, before recovering, and is sitting at 2147 as I write this.

Monday looks prime to me at this point for a jump back in based on the P&F chart activity.

There is a double bottom right here that looks really tempting to me. The o LT thing I would say is it is possible it will retouch this area early next week, but I think we will be ok if it did.

Good luck:

Image1614364032.238531.jpg


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P&F Chart School

Take a look at where the “S” fund is right now on the P&F chart.

Either it breaks uowatd through the red line tomorrow, or else it turns around and sinks again. I am thinking that with the falling oil prices, there is a solid chance the line will break through upward.

If it does, then I think we’re going to find strength moving forward.

We shall see which way it goes soon.
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Looks like a soft resistance here- the S&P 500 is looking like the next soft point down is 5400, and then again at around 5000.

That’s a triple bottom breakdown.

I my head, I’m thinking right now- 4% down today, settling to 5400 in the next day or two. Then a pause, and then another slam down to 5000.

My Gut tells me:

80% chance of 5400.
65% chance of 5200. And
At least a 50% chance of 5000 within a week.

After that- big questions . Too volatile to know but it’s not pretty.
 

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