Trading with point and figure

dax

2rpwuab.gif
excellent bounce from our 9400 supp area
stops tightened
 
a clearer veiw
mid pattern rez areas show up nicely
 

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spx
psycho rez at 2050 area
there is a stack of horizontal rez to test before we get to mid pattern at 2068-2072
bulls need 2050 as supp
 
prev breakout 2036-2040 area /rez....should be supp
rez starts at 2048/prev supp
trend supp 2028
 
first pop is 2044-2048..first rez area on the chart
then the big one 2048-2052...psycho area...could be a fake into that area
2036-2040 is first supp area
could go either way
 
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