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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (6722)

2/15/2019 3:54:39 PM

From: Fintas

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toccodolce

Read Replies (1) | Respond to of 26669

That is default in the chart shown in a previous post. And yes the program still does give targets. However for that chart it was in the 1488 area which would suggest it's over shot the target.

The difference in how I use PNF has been discussed often. I am NOT a pure PNFER. I don't pay attention to many patterns or programmed targets. I rely on my FA work along with TA work.

I use many other tools to come to a conclusion. Often when posting I will just keep it simple and just use a default chart as I recently did but for myself I use my sequences and an array of value boxes..

In the post I just presented I threw in some info re RUT's RSI to demonstrate that I'm comparing one piece of data to another.

So while I agree with you that the RUT has had a nice rally. It's far from taking out previous highs and it's at a range where it's extended which would require some retrace. .

Additionally, if this rally was built on sand then I would not be surprised to see the retest of that RSI. Keeping in mind it's barely moved off it's lows. That says to me yes the price is up but it's not translating to it's RSI and the divisor used.

Here's the RSI. Given the move the stock has made and the fact the RSI has not followed that says to me, this pattern will either retest the previous O low and possible add 1 or 2 more. TWT.

Doesn't mean that any one who just caught that bounce didn't do well. THEY DID!.

Just means I'm not confusing a nice rally off extreme lows to a new bull. Remember that RSI is but 37.2 ish ZZZZZZ

	91	98	00	14
77.1122					77.1122
72.4058					72.4058
67.9867					67.9867
63.8372					63.8372
59.9411					59.9411
56.2827			3		56.2827
52.8476			X	O	52.8476
49.6222	C		2	O	49.6222
46.5936	X	O	1	4	46.5936
43.7498		O	X	O	43.7498
41.0797		8	X	5	41.0797
38.5725		A		B	38.5725
36.2183				9	36.2183
34.0078					34.0078
31.9322					31.9322
29.9833					29.9833
28.1533					28.1533
26.4350					26.4350
	91	98	00	14