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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (32151)8/24/2019 12:10:37 PM
From: Fintas1 Recommendation

Recommended By
toccodolce

  Read Replies (1) | Respond to of 34802
 
I don't know whether MATT is pumping/has an agenda, has wishful thinking but it's apparent to me he didn't see this coming in the SPX 10 week chart.

Keep in mind the near term had been way oversold and required a bounce. That can also be seen in this 10 week. Yet that bounce ended for the near term and so to this 10 week.

Then we saw another bounce for the NEAR term that also failed and as we can see with this 10 WEEK it too has failed.

Now the good news for MATT is that the NEAR term has given up most of it's gains. It could still drop lower yet at some point it will bounce again. The question is will it be from DEEP in the hole or higher. Better if it were from DEEP in the hole which would tie to the 2754/2550 ish. But if from higher then 2754 ish. The danger for MATT and similar is this 10 week. NOTICE the word 10 WEEK.. It can go down deeper over time. SO too the 30 wk/40wk and that doesn't bode well for those hoping for a blast up to the 3078/3240/3402.

So what to do. That's a decision up to others.

Me? I'm on record where and what I'm interested. I'm in no hurry. JUST REMEMBER or ACCEPT AT MY CORE I'M A BULL! I am ALWAYS LOOKING FOR where the upside is. Even if it means I wait to buy LOWER and play it differently than most. I.E deep in the monies, out of the monies, or via a ETF or plain ol Stock. I have NO issue buying GE. IF it meets my criteria. IF NOT. I'll just watch.

I have no problem with JPM but with a CALL when it hits a number down and IF the time and premium is correct.

As we drop more and more will come into range. IMO

Fintas

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To: Don Green who wrote (32151)8/25/2019 1:00:17 PM
From: mattstat  Read Replies (2) | Respond to of 34802
 
Wait till this week.

Snort.


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