Yeah, I think that would be a very bearish sign, it seems like very strong support. You can see that it has been bouncing up less and less, there's been less buying pressure
Hey guys, some more charts from early action today Support levels quite clear, but it looks like a top may be forming and we might be heading down
I was looking and saw some additional weakness in CPB. It looks like if it continues to do go down past 30 it would be a good short, double bottom sell signal. But what I would like to know is, the risk profile for this trade. I feel that if it would break this level it would head further down, but not sure if the risk/reward ratio is appropriate. I feel the market had an early break down today but not anything major, so we could get a rally putting this stock at a loss if shorted now. Looking to try to learn more about favorable/unfavorable trades. Time frame 1 box. 3 box reversal.
happy thanks giving to all.we dont celebrate it here in the u.k. an update for the s&p 500.the chart is 20 points box size.3 box reversal.daily data.hilo data input i have included some vertical counts.all the downside counts have been achieved except the last one.the last column is moving upwards and i have put on a vertical count.this has not been fixed as yet.ie there has not been a retracement column.it will not get activated until there is a break above 920.you can see the target so far only takes us to the top of this range at 1060.so we watch this last column to find out where it retarces so we can get an idea of how far this rally will go.once we get an activated upward count then the 520 count gets taken out
dow. the upide vertical count put in as a guide.no activation as yet downside counts clustering in the 6750-6900 region if it breaks above 9000 and retraces this count will be active
codetroll some vertical counts on campbell/cpb the last signal was a double-bottom.the main uptrend line has not been broken.no real breakout pattern as yet does this help.?
Dentist, I think your chart is not up to date. CPB last closed at 31.88 according to Google Finance. I think tomorrow would be a good day to get short, Codetroll - it broke down and retraced to a lower high, looks like a good time to enter (tight stop though).
dow.intraday data hourly data.50 points/box size.3 box reversal.the vertical count from the latest low is giving a target of 9400.it has just broken out of its latest consolidation
Thanks Dentist for the CPB chart, I didn't get into the move because I felt there was upside in the indexe(s). I agree with you on your 9400 call, a lot of people are expecting a rally, I was just curious what vertical count are you using to make the projection? (50 * X? * 3) + 8600(?) If 9,400 is our "target" wouldn't it be a good time to start looking at creating short positions with the assumption that the index is still range bound?