Thread: P&F Chart School

Originally Posted by JTH

We currently have 5 Os down, on a 3-box chart shouldn't this have put in a reversal?

I am not sure- I have to go study my notes. I am thinking that we'll see the reversal show up after the market closes. It really doesn't matter to us now until noon cutoff tomorrow anyway.

I would note that Tom posted a real nice chart comparing this 2013-2014 run up to the 1929 stock market.


I'll have to go dig that up.

:-)

DBB...

Yep- looking ugly. Double bottom breakdown and a negative price objective showing at 1640.

That parallel to 1929 is eerie, isn't it?

1640. I was on board with 1670.

Nice. I'm looking for 1625-1650 to buy.

Triple Top Breakout!

Attachment 27940

Bull Trap on the S&P 500 this morning.

Makes it MUCH harder to figure out which way we are going next. Could be either direction.

See P&F Bull & Bear Traps - ChartSchool - StockCharts.com

Nasty.

We flipped today and got a new, lower price objective.

ddb-04-11-2014.jpg

Double Bottom Breakdown.

Attachment 28607

Attachment 28609

Attachment 28608

(crosses fingers AND toes- took a hit over the last three months and wants to be all better, and back where we were in January.)

DTB

Attachment 28619