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JTH

PnF: RISK OFF

Rating: 2 votes, 1.00 average.
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Across the PnF Market Board, AGG, the Transports, and the NASDAQ 100 are on a sell.
STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-01-png

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AGG


  • On 2 March, we triggered a Double Bottom Breakdown
  • On 6 March, we triggered a Descending Triple Bottom Breakdown (Back-to-back Double Bottom Breakdowns)
  • We have a 109.54 bearish price objective and are -.15% away from reaching the target
  • Price is less than 50% of the entire chart which covers roughly 4 months
  • Strong area of historical support at S1 where we put in 5 bottoms

STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-02-png
STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-03-png

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SPX


  • On 6 March, we triggered a High Pole Warning (prices rise above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise)
  • Although this is a warning, it is not a reversal, we still have a 2245.92 bullish price objective and are 8.43% away from reaching the target
  • A bearish reversal gets triggered at 2038.2 we are -1.60% from reaching this target

STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-04-png

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W4500


  • On 6 March, we triggered a High Pole Warning (prices rise above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise)
  • Although this is a warning, it is not a reversal, we still have a 1172.7 bullish price objective and are 8.20% away from reaching the target
  • A bearish reversal gets triggered at 1059.59 we are -2.24% from reaching this target

STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-05-png

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Transports


  • On 4 March, we triggered a Double Bottom Breakdown
  • We have a 8712.74 bearish price objective and are -2.19% away from reaching the target
  • Strong area of historical support at S3 where we put in 3 bottoms

STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-06-png

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NASDAQ 100


  • On 6 March, we triggered a Double Bottom Breakdown
  • We have a 4320.51 bearish price objective and are -1.79% away from reaching the target
  • Strong area of historical support at S3 where we put in 3 bottoms

STOCK AVERAGES SO FAR THIS MONTH-2015-03-07-07-png


Thus far, the damage has been minimal, yes we breached key levels, but those levels were tight & high, so the bigger picture remains intact and bullish. Playing devil's advocate, with two of our leading indexes on a short-term sell, now is a good time to think about taking some risk off. As for myself, I made this decision 2 days ago when I slid into the G-Fund, so I'm just chilling and waiting to see what happens next.

Trade safe…Jason




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Updated 03-07-2015 at 01:37 PM by JTH

Categories
Point and Figure

Comments

  1. FAAM's Avatar
    Thank you very much JTH and so many other regular TSP-Talk Bloggers who share your analyses, charts and comments on a regular basis.
    I've been trying to claw back from early Jan. 2015 losses in my TSP, had moved a lot back into CSI leaving some in G &F recently. I read the blogs, esp. your & Tom's daily postings all week; saw/heard lot's of warning signs/bells & folks pulling back on Thursday morning... was leaning towards doing that this week myself - you folks sharing helped convince me to IFT COB on the up-day; saved me a few grand missing Friday's drops.
    With only 3-to-6 years before retirement I'm getting more conservative with my TSP, can't stomach going to full-risk, so going 50% to 75% CSIF is a big move for me. Every little bit UP helps.
    Thanks again & I wish us all successes.
    Updated 03-07-2015 at 11:37 AM by FAAM (correction & explanation)
  2. JTH's Avatar
    Thank you for the kind comments, I'm glad your trade worked out, it will be interesting to see if we pullback further or resume the larger uptrend.
  3. Cristina's Avatar
    Yo, good looikn out! Gonna make it work now.

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