Trading with point and figure

Now at this mornings break out point. maybe supp.
 

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oil.not lookin great
BOj and PBOC not good news
mood could have turned bearish
oi/ wti chart
uptrend broken,,needs to stay above 32.60 area
 

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test 9630-9645 ??
5 box reversal..cuts out the rubbish
 

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Will wait until US open and see what if anything we get, otherwise not much movement.
 

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Before the Open (Jan 29)
by admin on January 29, 2016
in Before the Open
Share Your Thoughts
Good morning. Happy Friday.
The Asian/Pacific markets closed with relatively big, across-the-board gains. China gained more than 3%, and Malaysia, Taiwan, Japan, Hong Kong and Singapore rallied more than 2%. Europe is currently mostly up. London, Belgium, Switzerland, Turkey, Spain and Italy are up more than 1%; France, Germany and the Netherlands are also doing well. Futures here in the States point towards a moderate gap up open for the cash market.
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Join Leavitt Brothers – Top Notch Analysis and Trading Ideas
—————
The dollar is up. Oil is up, copper is up. Gold is flat, silver is up. Bonds are up.
Japan has adopted negative interest rates for the first time ever. Excess reserves parked at the central bank (I don’t know how much is considered excess) will now pay 0.1%. Japan surged almost 3%.
It’s been a choppy week. Going back to last Friday, the S&P has moved nowhere. Up, down…no directional moves have lasted more than a day.

Before the Open (Jan 29)
by admin on January 29, 2016
in Before the Open
Share Your Thoughts
Good morning. Happy Friday.
The Asian/Pacific markets closed with relatively big, across-the-board gains. China gained more than 3%, and Malaysia, Taiwan, Japan, Hong Kong and Singapore rallied more than 2%. Europe is currently mostly up. London, Belgium, Switzerland, Turkey, Spain and Italy are up more than 1%; France, Germany and the Netherlands are also doing well. Futures here in the States point towards a moderate gap up open for the cash market.
—————
Join Leavitt Brothers – Top Notch Analysis and Trading Ideas
—————
The dollar is up. Oil is up, copper is up. Gold is flat, silver is up. Bonds are up.
Japan has adopted negative interest rates for the first time ever. Excess reserves parked at the central bank (I don’t know how much is considered excess) will now pay 0.1%. Japan surged almost 3%.
It’s been a choppy week. Going back to last Friday, the S&P has moved nowhere. Up, down…no directional moves have lasted more than a day.

The weekly is posting a loss, and the small range reflects the market’s indecision this week.

The biggest news right now is earnings. There have been many big post-earnings moves – big gaps in both directions and no way to comfortably guess which way stocks will go.
Under Armour has been a mess for several months…yesterday it rallied almost 23%.
Apple underwhelmed and paid the price. Ebay got crushed.
Facebook did great and was rewarded. Amazon missed and will get hit at today’s open.
Be careful out there. My overall bias remains to the downside. But in the near term anything goes…and especially anything goes with individual stocks.
Stock headlines from barchart.com…
Microsoft (MSFT +1.64%) is up over 3% in pre-market trading after it reported Q2 adjusted EPS of 78 cents, above consensus of 71 cents.
Amazon.com (AMZN +8.91%) slumped over 10% in pre-market trading after it reported Q4 EPS of $1.00, well below consensus of $1.55, and said it sees Q1 operating income pf $100 million-$700 million, below consensus of $731.7 million.
Electronic Arts (EA +0.43%) tumbled 8% in pre-market trading after it said it sees Q4 adjusted EPS of 40 cents, below consensus of 50 cents, and then forecast fiscal 2016 adjusted EPS of $3.04, below consensus of $3.11.
Colgate-Palmolive (CL +1.12%) reported Q4 EPS of 73 cents, better than consensus of 72 cents.
Phillips 66 (PSX +1.25%) reported Q4 EPS of $1.31, higher than consensus og $1.26.
Amgen (AMGN -1.41%) rose over 1% in after-hours trading after it reported Q4 adjusted EPS of $2.61, higher than consensus of $2.29, and then raised guidance on fiscal 2016 adjusted EPS to $10.60-$11.00 from a November estimate of $10.35-$10.75, above consensus of $10.66.
Western Digital (WDC +4.63%) slid over 1% in after-hours trading after it forecast Q3 sales of $2.8 billion-$2.9 billion, below consensus of $3.23 billion.
Visa (V -2.23%) gained over 2% in after-hours trading after it reported Q1 adjusted EPS of 69 cents, higher than consensus of 68 cents.
Synaptics (SYNA -1.18%) fell nearly 2% in after-hours trading after it reported Q2 revenue of $470.5 million, below consensus of $477.9 million, and then lowered guidance on Q3 revenue to $430 million-$470 million, less than consensus of $501.4 million.
QLogic (QLGC +2.38%) surged over 10% in after-hours trading after it reported
FROM Jason Leavitt
 
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