Trading with point and figure

[Dentalfloss]

spx 1 min since NFP

%log box size....beautifully defined signals
Break of trend combined with consecutive bearish signals

 

[Dentalfloss]

question is ...does that supp hold on spx and we rally and break that minor downtrend ??

 

[Moneylender]

Its the falling oil price thats doing the damage today, currently @ $37.2

 

[Dentalfloss]

Its the falling oil price thats doing the damage today, currently @ $37.2

*
We said that a few hours ago

 

[Moneylender]

*
We said that a few hours ago

Did we, oh well I have had an afternoon siesta. Thats my excuse, and it dipped under $37 for a few minutes.

 

[Moneylender]

Morning all, see we had a bit of a drop overnight

 

[Dentalfloss]

dax into the open

 

[Dentalfloss]

lookin like it wants to go up
remember...this is a mess market...trends are very short lived
10865 our supp from yesterda
10800 a cluster area
10930 horizontal res
10983 area ...ditto

 

[Dentalfloss]

a closer look at the move from NFP

 

[Dentalfloss]

looks a bit like a bull flag...no confirmation as yet
trend res/red at 10930 area
horizontal res at 10940 area
horizontal supp 10860 area
10810 prev breakout/res at 10810
10810-10820 a cluster area...should provide good support

 

[Moneylender]

Close up with some early levels

 

[Moneylender]

Looks like 10850 is the supp, but not sure how strong it is yet. Broken as I type 10800 here we come then?

 

[Dentalfloss]

scalps off 10810/long
marked earlier

 

[Dentalfloss]

Looks like 10850 is the supp, but not sure how strong it is yet. Broken as I type 10800 here we come then?

the move down to 10800 area was crazy...even on the tick chart...not taken

 

[Dentalfloss]

decent bounce..stop tightened

 

[Moneylender]

minor res at 50/60 area, just above is down trend line must break that

 

[Dentalfloss]

decent bounce..stop tightened

in the 10860 area ..could be messing there

 

[Dentalfloss]

stopped out for a good run

 

[Dentalfloss]

oil/wti

 

[Moneylender]

stopped out for a good run

Still in looking for more upside