Trading with point and figure

[Dentalfloss]

spx still nasty
chart comin

 

[Dentalfloss]

spx

 

[Dentalfloss]

from that chart...it looks like a bull trap
price broke thru lilac yesterday
rez is now 2107 up to 2114 area
lower pivots marked
big cluster area at 2072-2079..marked
there is a downside count of 2030

 

[Dentalfloss]

anything above 2114....look for burnout in the uptrend
uneless supp come s in

 

[Dentalfloss]

dax and ftse supp areas posted could be temporary...look lower

 

[Dentalfloss]

6816 could be next stop

 

[Dentalfloss]

SPX over last 24 hours

chart updated

 

[Dentalfloss]

DAX is a pump or dump
bounce from that supp or down

 

[Dentalfloss]

there is a big wodge of horizontal supp from 10231 to10383 / green horizontals

 

[Dentalfloss]

supp can be anywhere within 10231-10350 area

 

[Dentalfloss]

6816 could be next stop

excellent
stops tight

 

[Dentalfloss]

our 2096 supp area hit and bounce
excellent
scalps in and out

 

[Dentalfloss]

6816 area hit and bounce
scalps in and out

 

[myattitude]

Just curious dentist, how do you decide your entry on whether to scalp off a marked supp/res or to enter a breakout?

 

[Atilla]

from that chart...it looks like a bull trap
price broke thru lilac yesterday
rez is now 2107 up to 2114 area
lower pivots marked
big cluster area at 2072-2079..marked
there is a downside count of 2030

I'm seeing the same numbers Dentist, especially 2080 & 2030 then obviously the psycho 2000 level.

Election fever not going away for another week. Market's getting cold feet over Trump. Risk rising. Interesting to note gold and oil moving in opposite directions.

Oil down
Dollar down against
- Cable and Euro Up
- Up v Yen (carry trades expected to kick in with Fed rate hike)

Gold back up to 1300 (despite anticipated Fed hike)

Gold up v Oil down

Few contradictory moves to usual historic ones.

It's all topsy turvy.

I reckon until elections over best to sell. So will go with sell bias on the SPX.

Could change in a news flash. :idea:

 

[Dentalfloss]

mornin

 

[Dentalfloss]

Just curious dentist, how do you decide your entry on whether to scalp off a marked supp/res or to enter a breakout?

p/f signals

 

[Dentalfloss]

6816 area hit and bounce
scalps in and out

still holding..we could get a decent bounce

 

[Dentalfloss]

SPX updated

 

[Dentalfloss]

SPX
from the chart
we are in the green line horizontal supp area
in theory....we should bounce
supp area is 2086-2093..in that area now
firts rez is 2093...then 2100 and then 2107 up to 2114
we could fake down to 2079/2080
could go anywhere