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Strategies & Market Trends : Point and Figure Charting
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Recommended by:
Ms. Baby Boomer
toccodolce
To: Investor2 who wrote (31609)5/12/2019 1:14:05 PM
From: Fintas2 Recommendations  Read Replies (1) of 34823
 
Here's something to consider as you are attempting to decide if that's a shooting star or not.

This is the BP RSX for the NYSE.

It's at 42.27. A hit of the 42 will turn it to O's.

So whether the DOW does a near term rally to some resistance above.

I'll go on record that this pattern is going to TURN to O's and that means the NYSE and the DOW will turn lower after any near term bounce.

How ya play it is up to you.

I know what I'll be doing. I'm looking at every equity I have an interest to decide how far it can drop to doable support levels. EX. I once HOPED for a 44 JPM. NOT ANY MORE. BUT 61? Probably not. 78-81. Very possible. Then I'll decide which CALL and time frame or just do nada. To me ya make the greatest % on serious hits. I'm ok with waiting for such or just passing.

BAC. I still have 19.44 in site and 24.30 is a given.

SDOW. BTD with discipline. I'm expecting that 32 in the chart below to be hit and possibly go lower. The chart is an indicator of companies that were in relative strength X's that will have been turning to O's and causing it's Relative strength patterns to roll over taking the Positive trends with it and all of it having a negative effect on the BP DOW.

I expect the same with the BP SPX and BP RSX and have put up data to support such.

ALL IMHO

Fintas

040506080910111213141516171819
82.00 82.00
80.00 80.00
78.00 78.00
76.00 76.00
74.00 74.00
72.00 X72.00
70.00 XO70.00
68.00 XO68.00
66.00 A7AX66.00
64.00 XO4O1O64.00
62.00 X9OXOXO62.00
60.00 XOXCXOXCO60.00
58.00 XOX3BXOXO3X58.00
56.00 B16O6BOXOXO24O56.00
54.00 XOXO3OXXOX2XOXO1XO54.00
52.00 XOCO22OXOXOXO4XOCOXB952.00
50.00 OXO7O3AOC9XOXOXOXA149OX33XO50.00
48.00 5XOXOXOXOBAXOO58OXOBOX4XO2OXO248.00
46.00 8AAC3XOXO95AOOXO9OX5XO4OAO2146.00
44.00 956OXOXOXC286XOXA13AO6X7X8X44.00
42.00 A4OXOXXO2O64XOX6OX5X2XOX9X42.00
40.00 B81OXC1O9O1O55XOBXOX328B40.00
38.00 CXOXBOXOX24OXOOO5138.00
36.00 OXOXOX6XOX4X9X36.00
34.00 3AO8OXOAX34.00
32.00 3O32.00
30.00 30.00
28.00 28.00
26.00 26.00
24.00 24.00
22.00
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