Trading with point and figure

[Dentalfloss]

on the bounce...19960 is start of rez

 

[Dentalfloss]

dax in our 11520...

 

[Moneylender]

Morning all, 20k still being evasive!

closed a small short @ 950, got a good few will they have another go at 20K when US opens?

 

[Dentalfloss]

closed a small short @ 950, got a good few will they have another go at 20K when US opens?

its all a bit messy...anything goes...lol

 

[Moneylender]

Looks like 19945 - 50 area is going to hold??

 

[Dentalfloss]

11520 and bounce
scalps in and out

 

[Dentalfloss]

our 19950 was rez
excellent
scalps in and out

 

[Dentalfloss]

11560 was prev supp on 1 min candle
became rez
back to test our 11520
excellent
luvin it

 

[Dentalfloss]

The dollar is up. Oil and copper are down. Gold and silver are up. Bonds are up.
Last week several indexes moved to all-time highs. Some indicators fully support the price action; others are doing well but lagging a little.
For example, the cumulative AD line, which typically trends down for a few weeks before a minor correction plays out, or trends down for a few months before a major pullback takes place, hit a new high last week. This indicator fully supports the price action and does not hint at trouble brewing.

On the other hand, despite the market being at new highs, the percentage of SPX stocks above their 200-day moving averages is lower today that it was during most of the spring and summer. It’s not in bad shape; it’s just not as high as you’d expect given how well the market has done and the fact that the S&P is 6.4% above its own 200-day.

Overall I like the market. Anything goes in the near term, but for now dips remain buyable. More after the open.
Stock headlines from barchart.com…
Coca-Cola (KO -0.02%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.
VMware (VMW +2.57%) was downgraded to ‘Neutral’ from ‘Buy’ at UBS.
Dr Pepper Snapple (DPS -0.48%) was upgraded to ‘Neutral’ from ‘Sell’ at Goldman Sachs with a 12-month target price of $93.
Hormel (HRL +0.50%) was initiated with an ‘Overweight’ at Piper Jaffray with a 12-month target price of $40.
Teva Pharmaceutical Industries Ltd. (TEVA -7.53%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo.
Eagle Pharmaceuticals (EGRX -8.55%) was downgraded to ‘Underperform’ from ‘Neutral’ at Mizuho Securities USA with a 12-month target price of $64.
********** Financial (AMP +1.69%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a price target of $152.
Oasis Petroleum (OAS -1.95%) was upgraded to ‘Outperform’ from ‘Neutral’ at Macquarie Research with a 12-month target price of $19.
Endologix (ELGX -7.92%) said a patient death does not appear to be related to its AFX device and that the patient that died experienced a “Type 1B endoleak” which is usually due to natural disease progression. ELGX had fallen over 7% Friday after a FDA report showed the patient’s death may have been due to its AFX system.
Fiat Chrysler Automobiles (FCAU +6.22%) slid 1% in after-hours trading after it recalled over 86,000 older-model SUVs to replace driver and passenger-side airbags.
Aquinox Pharmaceuticals (AQXP +3.68%) lost over 1% in after-hours trading after it registered 10.5 million shares for holders.
Quidel (QDEL -0.63%) dropped over 6% in after-hours trading after it reported preliminary Q4 revenue of $52 million-$53 million, below consensus of $64.1 million.
Stage Stores (SSI -2.68%) tumbled 10% in after-hours trading after it said comparable store sales fell -7.3% for the 9-week period ending December 31 and then said it sees a 2017 adjusted loss of -70 cents to -85 cents a share, a wider loss than a November 17 estimate of -15 cents to -40 cents.
Today’s Economic Calendar
10:00 Labor market condition index
12:30 PM TD Ameritrade IMX
12:40 PM Fed’s Lockhart speech
3:00 PM Consumer Credit
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY

from Jason leavitt

 

[Dentalfloss]

back into 11520 and bounce
excellent

 

[Moneylender]

our 19950 was rez
excellent
scalps in and out

You got that spot on, I missed the second drop from 955!!!

 

[Dentalfloss]

19938 area is prev supp...poss rez

 

[Dentalfloss]

eurusd

supp area worked well today

 

[Atilla]

Dentist matey, have you seen my friend CHAV?

What do I do? Reached target of 15 :whistling

 

[Dentalfloss]

Dentist matey, have you seen my friend CHAV?

What do I do? Reached target of 15 :whistling

never exit
either tighten the stop
or make it very tight

 

[Moneylender]

Morning all

Dow bounced off 19860 again over night, missed my order by a smidgen!!!

 

[Dentalfloss]

chav
there is a horizontal rez at 1515
its pump or dump at 1515
supp is at 1500 and 1490

 

[Dentalfloss]

chav
there is a horizontal rez at 1515
its pump or dump at 1515
supp is at 1500 and 1490

on 60 min candle you can see a pivot area at 1480-1490
very tight stop is just under 1500
or put stop under that consolidation...that consolidation goes down to 1440
that consolidation should provide decent supp area

 

[Dentalfloss]

chav
linedot chart on netdania
4 hour
1450 and 1500 pivot areas show up nicely
there is another horizontal rez looming at 1520 to 1540 area
you had a great trade
excellent stuff..

 

[Dentalfloss]

Morning all

Dow bounced off 19860 again over night, missed my order by a smidgen!!!

levels..only there as a guide...as we keep saying