Trading with point and figure

[Moneylender]

2000 looks to be a brick wall!!!

famous last words

 

[Dentalfloss]

Same with the Dow, wouldnt like to call this the bottom yet!

agree
need to see that pivot on spx become res before a real bearish call
meanwhile...we fumble around for direction
fumble in the jungle..lol

 

[Dentalfloss]

2000 looks to be a brick wall!!!

famous last words

it is...
it will need to be res and tested before bulls give up

 

[Moneylender]

Can you do a zoom out with the Dow when you have a sec, I dont have the data far enough back.

 

[Dentalfloss]

Can you do a zoom out with the Dow when you have a sec, I dont have the data far enough back.

yes sir.

 

[Moneylender]

yes sir.

thats brilliant, thank you.

 

[Moneylender]

So Dow long term uptrend is still intact, even after all this Chinese nonsense!

 

[Dentalfloss]

So Dow long term uptrend is still intact, even after all this Chinese nonsense!

not quite....last signal was bearish on chart posted....lol...just to add to confusion

 

[Dentalfloss]

there is a minor downtrend within that uptrend
price recoiled off that pivot
we need to track the res areas and see the reaction
while we trade

 

[Moneylender]

not quite....last signal was bearish on chart posted....lol...just to add to confusion

Now I am confused.

green trend not been pierced, so still intact I would have said.

Go on educate me a bit more :smart::smart::smart:

 

[Dentalfloss]

pumped that 10250 we marked..no problem..

 

[Dentalfloss]

Now I am confused.

green trend not been pierced, so still intact I would have said.

Go on educate me a bit more :smart::smart::smart:

second last column is O...ie a downtrend..it has only slightly recoiled
that is good for us...confusion

 

[Dentalfloss]

from the chart..if 16940 is a res...then not happy
bounced off that yesterday

 

[Moneylender]

from the chart..if 16940 is a res...then not happy
bounced off that yesterday

But thats the region of trend supp as well, or maybe 70 points lower.
thats why i said long term trend is still intact even though we have had
several nasty down moves.

 

[Moneylender]

Met some res @ 17175, red trend line

 

[Dentalfloss]

2020 res...see if it gets taken out

 

[Dentalfloss]

2020 area...excellent
Trades in and out

 

[Dentalfloss]

still in that pivot area
2020 is first res area

Nailed

 

[Moneylender]

Nailed

Did something similar on the Dow!:clap:

 

[Dentalfloss]

Did something similar on the Dow!:clap:

excellent

:smart::smart: