Trading with point and figure

cable over last 2 days
vr68i0.gif


lets see how it handles rez
 
The dollar is down. Oil and copper are up. Gold and silver are down. Bonds are down.
The bulls are going to get a nice relief bounce at today’s open.
Since the Brexit vote, the S&P has posted its biggest 2-day loss since last August when it fell from about 2100 to 1867 in four days.
With the selling pressure taking most by surprise (not many expected the Brexit vote), a bounce will offer an opportunity to exit positions at better levels and salvage some losses.
In my eyes, even without the Brexit vote, the market was more likely to correct than to make a run at its highs. Internally, the market was deteriorating, so the stage was not set for a run to the highs. The bullish percent charts had put in lower highs, and the percentage of stocks above various moving averages were also diverging from the underlying price action.
 
dogs live in 2033 area
2028 first
rez at 2024 area to deal with
could go as high as 2043

2008-2010 decent supp area
lets see what happens
 
Last edited:
that 50% area is 1.3400 to 1.3438
that really needs to support on any pullback for market to see some confidence
could be wrong...
 
Anyone got any decent dax charts? Think the bounce top is in -if we close below 9500. Break above looks like a fake
 
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