Thread: P&F Chart School

Originally Posted by JTH

James, does the C-Fund PnF IFT tomorrow?

Yes- thanks for catching that. I'll try and post something later tonight. Good catch. thanks!

Well, we got a triple-bottom breakdown today, and that made a new
"bearish price objective", a change in the forecasted direction.

The new preliminary forecast is for a bearish 1280 price objective ahead.

On that, we'll officially move an IFT for the first time this year, and jump out to the safety of "G".

P&F Chart C officially IFT's to "G" effective close of business tomorrow.
pf-move-05-08-12.jpg
Good luck.

FYI- The "S" fuind is painting one UGLY P&F chart today. It just blew past support levels, and is now showing a significantly lower bearish price objective.

Here is the "S" chart:

ugly.jpg

Here is what the "C" fund is doing..... also looking nasty:

yuk2.jpg

Still not looking good for the C fund.

SharpChartv05.png

Very interesting...

SharpChartv05.png

I admit I haven't been paying attention to the P&F chart lately. A high pole warning was issued today, so lower prices may be coming in the near future, but the price objective is 1550. I was staying away until it got close to 1180, where the price objective was at the beginning of the month. I might need to rethink this and use my IFT's before the end of the month to be back into the market for a bit.

Current chart:

SharpChartv05.png

Good luck everyone!

Just an FYI-

The "S" funds' s P&F chart hit a reversal yesterday on the shortest term indicator- the first time in quite some time.

The "C" fund P&F chart may do the same this morning. I will be watching it closely now that we are near the mark where a reversal is possible.


Have a great day.

Just an FYI-

Both the "C" fund (S&P 500) and the "S" fund ($emw) P&F charts are showing positive signs today- indicating to me about 4 or 5 more very postive days ahead.

I'll try and post some technical comments tonight from home. Just wanted to say that I am seeing postive stuff on them right now- and a continued wave up for at least a little while. We'll see how it works out. Good luck.

Dang! I apologize but I missed a signal earlier this week for the P&F Chart for the S&P 500.

The chart moved to a REVERSAL- with a negative price objective (P.O.) of 1380! I am not exactly sure when it did it, but it appears to have switched a couple of days ago and I didn't look at it until a few minutes ago. I am therefore pulling the P&F chart trigger and moving to "G" as soon as possible. Unfortunately, it is after 12:00, so I am stuck till Monday.

Here is the P&F chart.
10-19-12.JPG

Moving to "G" on the P&F Chart C auto tracker account effective close of business Monday.

Getting Ugly.

P&F chart now showing a triple-bottom breakdown today, with a renewed emphasis on the price objective of 1380.

This is the S&P 500 chart- but the "S" fund chart is doing the same thing- triple bottom breakdown and an ugly prediction.

Will the S&P 500 dip below the blue line, and reach down to 1380? Well, that's what the chart is saying will happen. I don't know for sure.


10-23-12.JPG
What I DO know is that I was able to bail out yesterday in the hypothetical P&F account. And I bailed out last week with my REAL money. In both cases, we're better off today than we would have been in a "buy and hold" situation.

Staying on the sidelines and protecting / preserving capital. Watching. And learning.

You always learn something new.

Good luck.

OK- Well, this morning, the P&F Chart hit it's BEARISH PRICE OBJECTIVE of 1380, which was predicted back on October 19th.

THIS MORNING's LOW WAS 1373.

The one thing I'll say about the P&F system is that there are many times when it is correct. Yes, it misses every now and then, but it hits a lot too, and is helpful to me as ONE FACTOR- but only one factor, that I use myself in making decisions.

Normally, reaching a price objetive is not the final word on when to change positions. It is quite common that sometimes a direction goes PAST a price objective (either up or down) and keeps going for a little while more. I am not sure if we are now done with the decline since Oct 19th as of today, or if we may keep drifting down a little lower. It could be either answer. So, today, I'm going to hold off for another day or two to see where it takes us. If we are at a bottom, we'll still be able to buy back in near here. If not, we can learn that too.

Here is the chart today:

11-09-12-met-.jpg

We've met the forecasted 1380 S&P 500 bearish price objective, which was signaled back on October 19th. And we've done it in just about three weeks. Interesting.

Are we done now?

I'm not sure.

I'll wait another day and see how things look, before deciding whether to jump back in or not.

Today's S&P500- met bearish price objective, and now I am looking for a re-entry point.

Maybe tomorrow, maybe not. Let's see how today and tomorrow morning shake out.

Take care out there!