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Thread: P&F Chart School

  1. #877

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    Default Re: P&F Chart School

    Any update for this month?
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.

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  3. #878

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    Default Re: P&F Chart School

    Think I found it:
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.

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  5. #879

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    Default Re: P&F Chart School

    Quote Originally Posted by Bquat View Post
    Think I found it:
    Yes, the chart went on the upside back on May 27th, with a forecasted Bullish Price Objective showing of 2040. Whether or not we make it to 2040 - well, I personally think that is doubtful on this cycle, BUT- we now have eleven positive "X"s showing, and I am thinking that because we are so close to the 2000 mark, that we MAY just swing up through that shortly.

    But then again-.. well, who knows.

    Ride it for what it's worth!


    Happy Fourth of July!

    http://upload.wikimedia.org/wikipedi..._Fireworks.gif

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  7. #880

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    Default Re: P&F Chart School

    Oh crap:

    It looks like the P&F chart for the S&P-500 changed last night and I didn't see it until just now.

    According to the chart, we just got a bearish "Double Bottom Breakdown" yesterday, and that changed the expectation to a new, lower number- back down to 1920 as the preliminary number.

    Here is the chart:

    big-P&F-09-26-2014.jpg

    This would indicate a SELL signal in the S&P-500 (C fund) under the P&F Fund C method.


    Now, I will tell you that for my own personal funds, I have been following a different system, but with THIS indicator, I am thrown for a loss at what I should do. As "The Clash" would say......SHould I stay or should I go?


    Not sure what I am going to do personally yet. Maybe I will take a deep breath and flip a coin before noon today.

    Good luck-


    As always- this is not advice, this is nothing more than a technical report- and YOU are expected to make your OWN decisions about what is best for YOU.

    Mileage may vary.

    Good luck.

  8.  
  9. #881

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    Default Re: P&F Chart School

    That double-bottom breakdown and sell signal in the P&F chart back on September 26 appears to be pretty significantly consistent.

    It looks good today, at least.

    And we have had some adjustments in the bearish targets as well in the last week or so.

    Now the bearish price objective - meaning the place at which the chart is predicting we'll find solid ground again, is now down to 1840. What that means is the P&F chart is saying we still have a ways downward to go.

    Here is this morning's data:

    10-09-2014-.jpg

    Not sure exactly where we go from here- but the P&F Chart for the S&P 500 is telling us to stay on the sidelines for a while longer.

    Your mileage may vary. This is not advice- this is only charting. You decide what you want to do. Don't listen to me.

    Have a great day, and good luck.

  10.  
  11. #882

    Default Re: P&F Chart School

    It looks like there are some x's and o's near 1900 and a little below. That looks like a reasonable target for resistance. I'm hoping to get down that far to get back into the S Fund.


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  13. #883

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    Default Re: P&F Chart School

    Thanks James, this chart is ALWAYS helpful!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

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  15. #884

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    Default Re: P&F Chart School

    Just an FYI- the "S" fund's P&F Chart, as represented here by the Wilshire 4500, just broke through and is indicating a major down trend with "Triple Bottom Breakdown" this morning- and showing a bearish price objective in the 880 range. This is indicative of a significant downward motion ahead.

    If I was waiting to jump back into stocks, I would be hesitent here.

    triple-10-10-2014.jpg

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  17. #885

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    Default Re: P&F Chart School

    Just an update- the S&P 500 P&F chart continues to indicate a further drop is expected before we get resistance.

    I expect it to hit the 1840 mark as indicated here in the next few days. That is the "Bearish price objective", and the point we can expect to reach soon.

    Note- Remember- that does't mean we won't blow PAST the bearish price objective- that is always possible, but I am thinking that it is a 75% chance or greater that we'll hit the bearish price objective of 1840 soon.

    10-14-downwer.jpg

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  19. #886

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    Default Re: P&F Chart School

    OK Folks- looks like this morning's downward thrust pushed down and crossed the BEARISH PRICE OBJECTIVE.

    That's the 1840 level on the S&P 500 that we were looking at.

    According to the chart, we've hit that now, and I would NOT be surprised if, over the next day or two, we retest that number, but then I also think we'll see some significant support right around this 1830-1840 level. The P&F Chart is saying we're going to bump up against that blue line as well. If that holds, then the bloodshed may be about over.

    Here:
    10-15-2014.jpg

    Let's see what the next day or two brings before reassesing.

    Note: The "S" fund chart is still saying there is further downward to go on the "S",- but the "C" fund chart here is showing we may have made it almost to the hard point.

    Enjoy.

    Remember- - this is not advice. Do what your heart says, and what your stomach can handle- and live with the result.

    Good luck.

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  21. #887

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    Default Re: P&F Chart School

    Quote Originally Posted by James48843 View Post
    Just an update- the S&P 500 P&F chart continues to indicate a further drop is expected before we get resistance.

    I expect it to hit the 1840 mark as indicated here in the next few days. That is the "Bearish price objective", and the point we can expect to reach soon.
    1840 was hit intraday, today.
    Weatherweenie's Account Talk
    Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.

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  23. #888

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    Default Re: P&F Chart School

    Quote Originally Posted by weatherweenie View Post
    1840 was hit intraday, today.
    And bounced hard.......I think it went there too quickly.....I need to see if this was just a test or a rush to set the bottom.
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

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