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Strategies & Market Trends : Point and Figure Charting
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Recommended by:
Ms. Baby Boomer
To: Ms. Baby Boomer who wrote (31536)5/3/2019 1:14:15 PM
From: Fintas1 Recommendation  Read Replies (2) of 34823
 
Matt doesn't have to make any sense no more than many a politician who stand before a microphone. They just say anything and unfortunately few question their silly statements.

So to those who do have experience many know that just buying a red day is no guarantee to making money to the long side. Often red days continue until an index or a stock finds it's bottom

Many bought RED days heading into 2000 and again into 2008 in both equities and indexes.

So Matt is just yakking.

However since I'm here and given I put up a chart recently showing the near term for the SPX momo was turning down. Well that number dropped again to a 52.

Now this chart shows X's up but ya have to understand the supporting details. Those who do understand that while another X or so could be added the likely hood of this chart putting in NEW HIGHS is VERY UNLIKELY and what should be expected is as that NEAR TERM momo continues to drop and as it does it tugs on the 10/30/40 week which will have negative effect of the RSP/RSX/PT and of course the BP SPX.

In fact IF this chart were to push a bit higher I'd be lowering my downside from the low 50's to the 38-42.

So from where I sit. SELL THE RIP.

IMO

Fintas

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98.00 98.00
96.00 96.00
94.00 94.00
92.00 92.00
90.00 90.00
88.00 X88.00
86.00 XO86.00
84.00 XO84.00
82.00 2X6XBX82.00
80.00 XO5OXOAOXXO80.00
78.00 XXOXOXOXOXOX1O78.00
76.00 XOX4XOX8X16OXOXC2X76.00
74.00 XOXOO79OX7XXXO82O7XOX74.00
72.00 XAXOXO3X8XOXOX5XOXOXOBO3472.00
70.00 9O1OXOXO5OXOXOXXOXO13XOAOXOX70.00
68.00 XBXOOXOXOX1X4BOXOX9X58XOXOX68.00
66.00 XOX2X4X9XOXOXOXOXOCOXOXXO66.00
64.00 XOCOXOAXOX5XOX6XAXOO8OX64.00
62.00 8OXOOXOX6XCXOXOXOXOX62.00
60.00 XOXOB2OXOXOXOXOXXX7AX60.00
58.00 XOOXOXO3OXOXOXOXOXOXO258.00
56.00 7OX7XOXOXOXOXOXO6OXOX56.00
54.00 XOXOXOXO7OXOX3OXOOXX54.00
52.00 XOXOXOXOXOXOXOXXOXOX52.00
50.00 XOXOXOXOXBXOXOXOXOCOX50.00
48.00 XOX8X1XOOOXOXOXOXXOX48.00
46.00 XOXOXOXOXOX5XOXOXOX46.00
44.00 OXOXOXOXOXOOXOXOX44.00
42.00 OXOXXOXOXOXOXOXOX42.00
40.00 OXOXOXOXOXOXOXOXOX40.00
38.00 OOXOXOXOOXOXOOX38.00
36.00 OXOXOXX4XOBOX36.00
34.00 OXOAOXOXOOXOX34.00
32.00 OXOXO2OXOXOX32.00
30.00 O9OXOXOXOOX30.00
28.00 OXOOXOXOX28.00
26.00 OXOXOOX26.00
24.00 OXOXOX24.00
22.00 OXOOX22.00
20.00 OO120.00
18.00 OX18.00
16.00 OX16.00
14.00 O14.00
12.00 12.00
10.00 10.00
8.00 8.00
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4.00 4.00
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