PFtrader

For now it seems like we are in the rally we were anticipating earlier. How long it lasts, or if this is the beginning of a larger up - nobody knows. KORS is an interesting stock for an upmove. It gapped earlier this year and we have now tried to close that gap, but failed. Instead we had a Wyckoff spring at the 48 level. On the P&F chart this reversal is happening at the exact level of the 49 top earlier this year. http://www.paf.am/?di=JKLK

We've had a big drop and will likely get a rally from here somewhere. Markets move up and down. We could be testing or entering the yellow area during this week. On Friday we saw a reversal bar. http://www.paf.am/?di=BAZ7

DVN breaks some tough support while SP500 breaks its support http://www.paf.am/?di=TKEF

The market is getting somewhat oversold, and we WILL get a pullback at some point. WHEN the pullback comes a short term trader could enter positions in strong stocks, if keeping in mind that the 3 month longer trend is down. We will get a pullback and test the 1400 level in SP500. If we get that far, or if we even go through it - only time will tell.

UTX in a break down through the short term support http://www.paf.am/?di=20XY

For a trend follower ADP only means following it down. Maybe to 50. http://www.paf.am/?di=33E3

ACN is a tech stock that is in a nice downtrend, we are abit over extended for going short, unless the bottom falls ut at this point, as we are at a support level. http://www.paf.am/?di=R4ZA

We had a huge up bar in FB which we are interested in mainly on the short side. We are still in the range we identified, and these huge up moves have happened before in this range. If we have worse times ahead, an entry at the top of this range could prove fruitful. http://www.paf.am/?di=3B9Z

Moving further downwards. We have already broken the technical level on the SP500 that we identified time ago. We will see a pullback at some point, but for now we are continuing to focus on the weak stocks to short. CPE has a double bottom point and figure pattern at 4.50 on the 1% chart. The candle stick chart shows the quick pullback on lower volume. Looks like a nice short to me. http://www.paf.am/?di=ZRWD

EXC looks so bad it does not even fit into the percentage point & figure chart without zooming http://www.paf.am/?di=LCP7

SO I don't want to own Southern http://www.paf.am/?di=ZP0D

PPL Somewhat strong compared to the others, but at an interesting technical level http://www.paf.am/?di=43MZ

PCG approaching 39-40 level P&F trend line http://www.paf.am/?di=HC0U

Approaching or breaking nearest 45 degree point & figure trendlines: AEE BREAKING: http://www.paf.am/?di=K1SM

Facebook stock technical analysis Assuming Nasdaq will perform worse in a bear market, it is safe to assume FB will perform badly as it has since the IPO. Action has been terrible and I feel for the people who bought there and then on promises. Who dares touching this one now. There are some technical points to consider which can provide for good setups. A break out below the 18 level would mean to me that we are heading down again, a confirming pullback on low volume for added confidence. The action in the current trading range is quite erratic. I don't see real stopping action, more a low base type of pattern. http://www.paf.am/?di=PKKU

Sundays are good for doing general market analysis before markets open on Monday. I'd rather take Friday afternoon off, and do it on Sundays instead. S&P500 has been weaker than Nasdaq, on a long term scale - Big chart on the right is the Relative Strength of SPY and QQQ. http://www.paf.am/?di=7TP7 This is normal. Now that we are on our way down I am assuming technology based Nasdaq will perform worse. We did have an up day on Friday - but not very big, more of a breather. But still a heavy reversal with a close on the low end of the range. Tried to go up, closed down - if we can't go up, we will probably go down.

CLNE - We have already fallen through the support that has been in place since June. We had a pullback which I missed, and now a double bottom pattern, one of the basic point & figure patterns. http://www.paf.am/?di=28XM

D - here we're also at the support. The option is to enter on the break through, or wait for pullback afterwards. http://www.paf.am/?di=5OVB

DUK - a nice "flagpole"? Are we heading down all the way? http://www.paf.am/?di=6RZ9

FE - we're at the support, could enter on the break through, or wait for pullback would the breakout come. http://www.paf.am/?di=5OVB

Let's look at some short candidates, The bottom fell out - waiting for a bear pullback - XEL on a 1% chart http://www.paf.am/?di=LPM4

An interesting thing to note, perhaps without much importance, is that the areas marked with the gray background are quite similar, while the first one is a little bit larger. Counting the final down moves in these areas, in the first one we had 10 Os down, in the current one we currently have 7. If we would have symmetric down moves from the symmetric areas, we would see a down move of 8 Os to 138 level. Close to the support we identified in the previous post. http://www.paf.am/?di=3ZLB

Yes we're heading downwards. The volume has picked up significantly - what I would call heavy selling. The point and figure chart shows two levels of support at 137, the previous resistance level and a minor 45 degree trendline - both at the same level of 137. Another 45 degree trendline below that might be the next support somewhere close to 134, where we also have a support level on the point and figure plottings. http://www.paf.am/?di=IOCY Looking at the barchart we can see that recently up-moves have had smaller and more bara, while the down moves have been on larger and fewer bars - this shows that the line of least resistance have been down. Likewise we can also note that the volume has been heavier on the down moves. The last two days have had much heavier volume than any other bar lately. http://www.paf.am/?di=8INT

Is it safe to say that the general market does not like the elected president? No confidence in the president's abilities to solve the financial trouble? Is it safe to say that the market had a terrible day? We officially jumped into the deep water, with a big splash. Huge bar, huge volume. Force. I expect lower prices, with a test of the new resistance zone at some point. http://www.paf.am/?di=SDGG We can confidently start looking at some short candidates.

First of all, sorry the post yesterday should have been SRPT and not SPRT - two different securities. The one in my pics is SRPT. Ever bought or sold the wrong stock? I have. You feel like an idiot when you do. It happens to everyone once in a while I guess. Anyway.... We had an up move in the markets. Dare we believe that it will continue, or did we see a reversal bar yesterday? A "peek-a-boo" in the resistance zone at 1420? Will we jump into that zone or was it the last time we saw these levels for some time? Looking at the Spiders SPY. http://www.paf.am/?di=8EU3 The 5 box size says we're approaching a resistance zone above 145. The 1 box size says we're heading down through the support at 142. I wrote a little poem for you: What do you do, when you are in doubt? When you don't have a clue? You had better stay out!