April 25, 2013 at 11:35 AM | written by Arthur Hill
The Nasdaq 100 ($NDX) swings have been quite wild this month, but the 15 minute P&F chart captured these pretty well. In particular, the Triple Top Breakout and Triple Bottom Breakdown identified the early April upswing, the mid April downswing and the upswing over the past week. There was, however, a bad signal just before today’s breakout. The black arrows point to these signals.
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March 22, 2013 at 1:06 PM | written by Arthur Hill
DGX moved sharply lower in January and February, but found support in late February and started a consolidation. The resolution of this consolidation will provide the next directional blue. A upside breakout would be bullish, while a downside break bearish.
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March 15, 2013 at 9:38 AM | written by Arthur Hill
Spot Gold ($GOLD) forged a Double Top Breakout with a surge this month, but remains well short of a bigger breakout that could have medium-term consequences. Notice that February X-Columns marking resistance at 1615. A break above these would forge a Triple Top Breakout and be medium-term bullish for bullion.
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March 12, 2013 at 4:14 PM | written by Arthur Hill
Point & Figure charts are great for identifying support and resistance levels. The chart below shows the Nasdaq 100 ($NDX) bouncing off the 2790 level four times in the past week as a consolidation takes shape. The bulls have a clear edge as long as this level holds. Note that this P&F chart is based on 15 minute prices.
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March 07, 2013 at 1:15 PM | written by Arthur Hill
60-minute P&F charts provide a nice medium-term perspective on broad market movements. This S&P 500 chart is based on 5-points per box and a 3-box reversal. Notice that it extends back to June and shows three big price swings. After the January surge, $SPX consolidated in February and broke out in March. The light blue line is the short-term bullish support line marking support around 1500.
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February 01, 2013 at 7:07 AM | written by Arthur Hill
The markets are clearly in the mood to embrace risk. The S&P 500 and Spot Light Crude ($WTIC) are up over 10% since mid November, and the Euro Index ($XEU) is up over 6%. In contrast, the 30-Year US Treasury ($USB) and the US Dollar Index ($USD) are down. Spot Gold ($GOLD) is the odd asset because it is down along with the Dollar.
Click this image for a live table
January 25, 2013 at 11:58 AM | written by Arthur Hill
The P&F pattern table on the
predefined scans page is a
good place to gauge the long-term trend for the stock market. As with a Bullish
Percent Index, chartists simply need to pick a pattern and then compare the
number of stocks on bullish P&F signals with the number on bearish P&F signals.
There are currently 87 Nasdaq stocks with bullish Triple Top Breakouts and only
22 with bearish Triple Bottom Breakdowns. User can click on these numbers to
see a list of the stocks.
Click this image for a live table
January 10, 2013 at 11:35 AM | written by Arthur Hill
IBM has been underperforming the broader market for several months and continued this trend with a break below support. On the P&F chart, notice how the stock formed three O-Columns with equal lows in January. The current O-Columnm which is red, broke below these lows to forge the quadruple bottom breakdown and target a move to the 190 area. Note: this is a 60-minute P&F chart with 20 cent boxes.
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December 14, 2012 at 6:28 AM | written by Arthur Hill
Intraday P&F charts are good for capturing short-term and medium-term price movements. The chart below is a 60-minute P&F chart for KB Home (KBH). Notice how the stock broke the Bearish Resistance Line and forged a breakout at 15 this week.
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November 06, 2012 at 12:05 PM | written by Arthur Hill
Even though the 50-cent P&F chart for QQQ sport a double bottom breakdown, the overall trend is up because QQQ remains above the Bullish Support Line (blue). Also notice that the ETF is hitting support from broken resistance at 65. The moment-of-truth is here for QQQ.
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