Trading with point and figure

[Dentalfloss]

supp on that flag is 2158 area
breakout is 2167 area
on that chart
it bounced at 2157 this morning

 

[Dentalfloss]

supp on that flag is 2158 area
breakout is 2167 area
on that chart
it bounced at 2157 this morning

bulls will want to see that flag supp area...get supported
should be a reasonable rez area
2163 prev supp area on 1 min candle

 

[Moneylender]

Closed a short on DAX @ 10035

 

[Dentalfloss]

in our 10080 horizontal rez now
lets see what happens
need spx into 2167 to really test the bulls
1.3380 lookin to become poss rez on cable

 

[Moneylender]

Nice little movements sofar today!

 

[Dentalfloss]

10100
2163 also
excellent

 

[Moneylender]

Nice little movements sofar today!

bit of an over shoot there, typical Dax!

 

[Dentalfloss]

cable

potential top forming
pivot not marked
1.3380-1.3400 area
will that become rez ??

nope..

 

[Moneylender]

10000held nicely

 

[Dentalfloss]

2175 a biggish rez area

 

[Dentalfloss]

spx into the open

into 2175 activates an upside count..should be rez there...with a target of 2240 area
2156 turns nasty

 

[Dentalfloss]

our 2172 rez workin well

 

[Dentalfloss]

our 2172 rez workin well

straight into our 2161 area

 

[Dentalfloss]

Markets still think that they are giving the Fed ‘forward guidance’ and per se remain sceptical that the Fed will hike rates this year. The problem that the FOMC has, especially following today’s run of very solid official statistics, is that the upcoming data will have to clearly signal a sudden stall, if they are not to find themselves well behind the curve. The core Retail Sales data above all (0.5% m/m after May 0.5% and June 1.1%) give the lie to the Beige Book’s suggestion that personal spending is ‘slowing’. In addition to today’s official statistics, particular attention needs to be given to the Atlanta Fed’s Wage Growth Tracker, which is now at 3.6% - see chart below the table.

from Marc Ostwald

 

[Dentalfloss]

straight into our 2161 area

and beyond
stops tightened

 

[Dentalfloss]

spx
should be in supp area
lets see if it holds

 

[jeffre4]

looks like 2156 going

 

[f2calv]

looks like 2156 going

gone!

Next stop 2145 or am I too ambitious?

 

[f2calv]

Probably 2152 to fill the Thursday gap up

 

[Dentalfloss]

Bradley model predicting a pullback or a correction due next week
Pivotalpoints...Jeff York
Pivotalpivots.com