BOOM!
P&F just flipped today with a triple bottom breakdown, and a bearish price objective of 1991.
Attachment 34286
I think the downside is far from over .
Be careful out there.
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BOOM!
P&F just flipped today with a triple bottom breakdown, and a bearish price objective of 1991.
Attachment 34286
I think the downside is far from over .
Be careful out there.
What is REALLY fascinating for me- is the "I fund" chart.
While it dropped quite a bit last week, it did NOT yet flip direction, although it DID hit a "triple bottom breakdown" on last thursday, and is set this morning to drop a full 2% or so at the open.
If it does, there is going to be a bloodbath today, and I think it will soon (but not today) be a great buying opportunity.
take a look at where we are, at the CLOSE last week- BEFORE the Greek vote:
Attachment 34347
Once again- this is CLASSIC formation.
Enjoy.
I would like to note that the StockCharts.com - Simply the Web's Best Financial Charts page is NOT updating this morning.
Not sure if it is something wrong- but it's not showing today's trading.
Just a quick note-
The EFA P&F chart (I fund) is showing that it anticipates a further 8% drop before it hits is price objective.
The "S" fund equivalent P&F Chart (EMW) is now showing just over a 3% further drop before reaching the bearish price objective.
Good luck to all.
Another quick note-
The NASDAQ's P&F chart flipped negative in the last hour- and is now showing about a 24% decline expected before we reach the bearish price objective.
Personally, I think this one is a false reaction, and I think it means there is heck of a "FIRE SALE" today on stock prices- but then again, you never know, do you?
Here is the NASDAQ P&F chart, just for entertainment purposes:
Attachment 34953
Nasty looking, isn't it?
Attachment 36684
More incredible down side indicated on the P&F chart today.
S&P 500 showing another 100 points down before the bearish price objective is going to be reached.
Ouch.
Attachment 37016
Amazingly, I use a .25% 4-box scale and the current price objective is 1748.64
I'm not a fan of coincidence...
Its been a while since I did anything with the P&F Charts-
I noticed last week a High Pole warning on Monday that indicated a falling cycle- and I should have bailed out, but I didn't.
If the P&F chart holds true-we have one more click downward before we get a reversal and a new climb. It's close the to the downside here, but we aren't
quite down yet, IF you believe in these charts.
Of course, I could be wrong.
Have a great day. and Happy 4th of July this week !
Attachment 43309
Thanks for bumping this thread James+zip. I always kind of liked the P&F for it's age and simplicity.
PO
See, there you have it. I WAS wrong.
Strong upside the last two days says we're going higher again. Despite the "trade war", the P&F Chart is looking exceptionally strong.
That S Fund just keeps on going, like the energizer bunny. It’s got to be getting tired! Sixteen units vertical without a break. Damn impressive. But it’s gotta be running out of room. I give it one more day north on Monday, and then it’s gotta be going to be exhausted.
Attachment 48397
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