Thread: P&F Chart School

P.S.- just a quick note- that the S&P 500 's P&F chart is now showing a BEARISH PRICE OBJECTIVE of 1500.

sp500-06-24-2013-.jpg

That's down from the 1520 that is was on Wednesday last week.

Expect more sizeable downside ahead if you believe the P&F chart's signals.

Here is the link to the complete "Stockcharts.com" charts today:
http://stockcharts.com/freecharts/gallery.html?$SPX

Enjoy.

Good luck.

Price objective slipped a bit more. Now showing as 1480.


Down she goes.....

This is really interesting. There was a whole lot of resistance today at the 1560 mark. It bounced off that level hard today.

Let's see if tomorrow that 1560 mark can hold again. If it does, then I am not sure we'll break downward to the 1480 level that is showing- We MAY have a new resistance level in around 1560ish, and perhaps a buying opportunity there. We'll have to wait and see what tomorrow brings.

SharpChartv05.jpg

Looks like it is time to go long...

Like they say, small caps lead the way...

Attachment 24481

Thanks guys for noticing- I'm sorry I missed it yesterday- but you are right, double-top breakout back into the postive price objective means time to move back over into stocks. I missed it as I am in Europe right now- and didn't catch it due to time zone differences. (In UK this week).

Moving the P&F Chart C back into stocks before noon today.

Good luck.

High pole warning issued yesterday.

SharpChartv05.png

Good luck.

What does a high pole warning indicate...burro not you

Originally Posted by James48843

Price objective slipped a bit more. Now showing as 1480.


Down she goes.....

Looking back, we never got close to 1480

Originally Posted by rcknfrewld

What does a high pole warning indicate...burro not you

The high pole warning is given when a chart rises above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise. The reversal implies that the demand that was making the prices rise has given way to supply pressure. The pattern is a warning that lower prices could be seen in the future.

I am watching closely now to see if the price objective changes.

Pay close attention- could be any day now that it does, which would trigger a move out of stocks.
So far it's still maintaining in equities- but could flip a any time.