Trading with point and figure

In my opinion, the “wrong” groups are leading. Industrial metals, gold, utilities – they’ve been doing very well. These groups aren’t big enough to lead – there aren’t enough stocks, and the combined market cap isn’t high enough to absorb serious demand.
Here’s an update of the daily S&P chart. Over the last seven months, the indexes experienced a quick, 1-week drop in August, a month-long rally in October and a 2-week drop to start the year. Otherwise there’s been lots of up and down movement, lots of gaps, lots of volatility and a complete lack of directional movement. This is characteristic of a top/beginning of downtrend – most of the movement takes place in a small number of days.
from Jason Leavitt
 
sb34mv.gif
 
if it tests 1929..there should be some bears waiting there
otherwise a downside break of 1921 area...shorts should be waiting if it bounces and tests 1920
 
plummet taken and closed at supp

you have to get your plummets right...
plummets are small plums...i have them with cereal every morning
 
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