Trading with point and figure

[Dentalfloss]

slightly out on that dax support....who cares...the trendline kept us in ma sell mood
scalp bounce from 10250
stop tightened

 

[Moneylender]

slightly out on that dax support....who cares...the trendline kept us in ma sell mood
scalp bounce from 10250
stop tightened

75 pips bounce there

 

[Dentalfloss]

10320-10332 res area now

excellent movement

 

[Dentalfloss]

Aside from the indexes opening the year with a huge gap down, the market is somewhat split as we start the year. The Dow, Nas and S&P are doing okay – not great, not terrible, just okay. They’re consolidating near their highs and haven’t enjoyed any directional moves in since October. The small and mid caps are a different story. They’re lagging and trending down. They don’t need to lead, but they can’t lag too much. When the market is healthy, everything participates, so until these two catch up some, the market’s upside will be limited.
Shorter term indicators improved the last two weeks, but I’m not sure it counts much, given the time of year. Volume has been low, and there hasn’t been much conviction. Gains are gains, but if Wall St. is a big voting booth, the gains can’t entirely be trusted given the lack of “voters.” Longer term indicators, such as the percentage of stocks above their 200-day moving averages and the bullish percent charts, are weakish overall. There is no subtle, beneath-the-surface, hint that strength is brewing.
The market can do whatever it wants in the near term – this is always the case – but overall we need to see lots of improvement if any rally attempt is going to hold.

from Jason Leavitt

 

[Dentalfloss]

spx into the open
we either break lower or test those areas marked

 

[Dentalfloss]

dax wants to pop that trendline

 

[Moneylender]

Took a long on the Dow, dont see much downside risk here!

 

[Dentalfloss]

dax

if it bounces

 

[Dentalfloss]

retest our 2002 area
lets see if it holds

 

[Dentalfloss]

spx into the open
we either break lower or test those areas marked

[/QUOTEbroke lower
excellent bounce

 

[Dentalfloss]

1995 a cluster area
chart comin

 

[Dentalfloss]

 

[Moneylender]

1995 a cluster area
chart comin

Think this will bounce hard if it breaks 2002

 

[Dentalfloss]

Think this will bounce hard if it breaks 2002

could be
got a retest of 10250 retest on dax

 

[Dentalfloss]

1987 here we come

 

[Moneylender]

1987 here we come

Looking very much like it

 

[Dentalfloss]

Looking very much like it

talk on twitter 1980....the big number

 

[Dentalfloss]

if 1987 breaks...then 1980 and 1968 areas

 

[Dentalfloss]

1987 here we come

not quite
1989 ....hit....so nearly right
excellent movement in and out of that area

 

[Dentalfloss]

needs to pump 2k