Trading with point and figure

[Dentalfloss]

Looks like you've hit the bottle too early in the day...

Hand, eye, brain & mouse coordination problem??? :cheesy:

normal behaviour....:cheesy::cheesy::cheesy:

 

[Moneylender]

RIP all those that died in Paris and get well those that have bee injured and maimed by these terrorists.

 

[Dentalfloss]

dax into the open

 

[Dentalfloss]

a decnt cluster of uptrend lines/green
remember what happened to index after 9/11
sunday index are marked down..could be a buying oppo....no guarantees....
10570-10640 trend supp area...got hit Friday
prev breakdown isn 10710 area..up to 10780 area...tested Friday morning
trend res /red at 10850 area..up to 10920

30 min data from new trend started at 2nd October
large box size to eliminate the rubbish
lets see what happens

 

[Atilla]

SPX - Monthly Pivot Points


R3 @ 2364
R2 @ 2232
R1 @ 2156

Monthly PP is at 2025.

S1 @ 1948
S2 @ 1816
S3 @ 1740


Reason why starting off with monthly is because I think it reflects on the probality of it reaching R3 as being so much lower than S3 1740. Personally, I've had my eye on 1750 for some time. Although I've been wrong and was premature in sentiments, one can only be so wrong for so long before being proven right as some say :cheesy:

I've been bullish last last month or so and now looks like bulls have run out of steam so back to hibernating with the bears.

Sometimes I think the mass public have so much loose change in their pockets from all the trillions of QE released in to the economies that seeing the downside again is about as close as seeing the darkside in the new hyped up star wars movie.


Sadly the weekly PP don't make much sense this week but on daily's

1993 is S3.

So battle lines will be 2000 the old psycho level. If it fails then next stop on the elevator will be 1880-1900 for some serious support level testing.

I'd still favour the 1750s however, anything less than 20% correction in this hyped up market place will leave investors with lingering doubts.

 

[Atilla]

DAX - Pivot Points don't make much sense either as they are last weeks and out of date already subsequent to Friday events and G20 meetings etc.

Same as spx I favour down side with psycho level test again of 10300-10000 regions. Don't think it will hold either.

Upside - I have 11000-11150 but see strong resistance there. If super Mario mumbles QE few more times it may well get there and beyond but thinking either way unlikely as this will merely expose true weakness of underlying economies.


Fed can also kiss their rate rises good bye and if they do raise rates than that'll be another nail on spx, knocking it to 1750s imo.

 

[Atilla]

Oil and gold are all over the place and whilst expecting them to rise the economic environment is leading to their falls.

Highly speculative right now and expecting oil to hold 40s (38-42 regions) and gold to hang on to 1100s (1080-1120 regions).

 

[Dentalfloss]

bye bye bears
spx
daily data
we got the top marked pink horizontal some time before it hit...remember...we had that marked in mid October
now we are smack in prev breakout area/aqua horizontal...with green supp trendline underneath
vertical count gives us a target of 2280...rate hike seems to be priced in

 

[Dentalfloss]

dax
daily data
upside vertical count of 11440

 

[Atilla]

bye bye bears
spx
daily data
we got the top marked pink horizontal some time before it hit...remember...we had that marked in mid October
now we are smack in prev breakout area/aqua horizontal...with green supp trendline underneath
vertical count gives us a target of 2280...rate hike seems to be priced in

Wow - so you're bullish Mr D???

R2 - says 2232 but if you say 2280 I won't quibble over 50 ticks when 200 is in play.

We made a LH with the 2090s so would need to get well and above 2100s before becoming bullish again.

I remain sceptical but wish you good luck with the bye byes

If the Fed raises rates now they'll be nuts imo. Best time would have been past spring/summer time. Even Australia and New Zealand considering dropping rates???


We live in interesting times... Cusp of a new era n all that.

 

[Dentalfloss]

Just talkin the technical signals....no more
But....
You have to respect those bullish upthrust columns
Fed will be laughed at if no lift off
Possible rally into January then a rethink

 

[Dentalfloss]

https://t.co/bb411dQGsb
a good read
Syria is about oil and gas

 

[Dentalfloss]

gap down last night at the open
bought the 10500
closed for a good run and went to sleep
lookin like it wants to pop 10600

 

[Dentalfloss]

2020 res on spx..lets see if that pops

 

[Dentalfloss]

10550 areacheld pre market
good movement from that
tightened stop

 

[Dentalfloss]

10655 a prev supp area

 

[Dentalfloss]

stop really tight now
could whipsaw around here

 

[Dentalfloss]

still pumpin
still in..just

 

[Dentalfloss]

in our 10655 zone now
still there
was bullish fro charts posted on weekend

 

[Dentalfloss]

closed 10662

gettin scared...lol