Thread: P&F Chart School

James: I wish you luck for your S fund (20%) and the I fund (80%. But I would like to see the the S fund with the larger gain. Look I'm only up 2.64% for the year. You, you are way up there on the tracker among the winners.

Someone please remind me to go wit one of the premium guys next year.

Just a comment tonight- none of the three I am tracking- C, S or I have reversed enough to change into a bullish price objective. So I am still holding my powder dry in this case with the S&P P&F TSPTALK mock account. I was tempted to move back in, but we're not clear yet if we are going to get a real reversal, or if that was just a bounce for a day or two. Even it it is real, the numbers are looking like up to only the 1430 or 1440 range on this cycle up. It's very early to get a flavor for where we go next. So will sit on the sidelines a little longer. Have fun. The S&P low was 1343, to anyone keeping track. We're now back up to 1386, just a hair over the 200 day moving average. I think we'll cycle up here to 1430 to 1440, may 1445, then break down again. We'll see. Take care and be careful out there- and remember- don;'t do what I do- do what YOU think you should do. Which, in some cases, is exactly opposite of me. :-)

For months now Tom has been talking about the range bound Transportation Index, nothing illustrates that better than a P&F chart. While the most recent range has definitely been broken we are now at a yet higher range we have not broken since July 2011. In years past the Transports have done a great job leading the markets, this year IMHO they did not lead the market at all, instead it was all lead by... Apple who lead the large caps and NASDAQ, so essentially what I'm saying is that this year was fake, a fraud perpetrated to have us believe we were in a bull market. The point I'm making is that if you can change the weighting of a stock, than you can alter the performance of the indexes, and that is what we've done with Apple.

The truth is is doesn't matter what I think, what matters is that we make money on what the market does, not what we believe it should do. If I traded solely on my beliefs, I'd be dead broke

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Double Top Breakout issued yesterday. Bullish Price Objective: 1590. Your mileage may vary. Good luck people!

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Good Catch Viva! Sorry- I wasn't paying attention and I missed it today.


Will move the P&F Chart C holdings into the S&P 500 tomorrow.

Let's get it moving!

Thanks, and good luck!

Just an FYI-

Today the P&F Chart for the S&P500 FINALLY flipped a reversal. The "price objective" has not changed, so I do not yet expect anything other than a nice retraction for a while- down perhaps half the distance to the last up side. But it triggered today and I'm posting the reversal here now:

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Looking it over with my Mark I eyeball, I'd say I expect initial light resistance at 1470's, heavy resistance at 1440's, and a floor at 1420 if it doesn't stop before then. Generally, I'd say there is at least a 40% chance that we'll stop at the 1470 mark and turn around, and at least a 70% chance we'll turn around before 1440. That's my 2 cents today.Personally I'm sitting in "G" right now waiting for the right spot to jump back in.

Good luck.

Again, yesterday's strong morning, followed by a sinkhole at the close after the Senate rejected the sequestration bill, means we're diving into unchrated territory. A sea of uncertainty ahead. My gut (and the P&F chart) seems to be saying a fall to the 1470 range is likely in the very near future.

Will it be so? Who knows.

Here is this morning's foreboding P&F chart:

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I'm thinking we open down this morning. Hang on (I'm on the sidelines now, waiting for a good spot to jump back in) and let's see where she goes.

Good luck.

Monthly PnF, you've come a long way baby...

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Sure would like to see the April's chart with these new highs. It should be out close of business Monday or do they do it for Monday?

Originally Posted by Bquat

Sure would like to see the April's chart with these new highs. It should be out close of business Monday or do they do it for Monday?

Still waiting and still relevant.

Originally Posted by Bquat

Still waiting and still relevant.

Sorry my friend, I canceled my subscription to stockcharts.com however, the free version does give you the Daily & weekly view. There is very little to say because we are in an area with little historical data from which to judge support/resistance levels.

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