Point and figure trading of US stocks

[PFtrader2012]

Apple, apple, apple.... :-( So AAPL opens down alot AGAIN.... once leaders, will they lead everybody else down as well

 

[PFtrader2012]

AAPL had a catastrophic day. Plunged below previous support on the P&F chart. A technical analysis on a barchart would show AAPL at support is considering OHLC bars and not "close only".

SP500 is at resistance and odds are we are in for a reaction, which could fuel Apples down move even more. Let's see what next week brings us.

 

[PFtrader2012]

I just love these SBAC charts - awesome

 

[PFtrader2012]

IXYS - setting up for a potential short

 

[PFtrader2012]

Here is a danger zone of AAPL - we will get a rally towards the danger zone which will be resistance that we would have to break through if we wanted a bullish trend.

 

[PFtrader2012]

So, we survived fiscal cliff death for now... We also survived the Mayan end of the world, we survived the holidays.

Now it is time to start trading again after few weeks of vacation from the markets.

TEX breaks through double top and a previous resistance level.

 

[PFtrader2012]

DLPH - what can you say? Fantastic profits from the double top break out. Currently overextended so don't enter positions right now, wait for a pullback for better risk/reward.

 

[PFtrader2012]

APA - potential short with rally that we can sell if we see negative action

 

[PFtrader2012]

EXPE - very nice looking pattern

 

[PFtrader2012]

LEN performs well in the double top patterns, so far really well

 

[PFtrader2012]

Here's a real loser - SKUL - the "Skullcandy" earphones kids used to want to have, but now rather die than be seen wearing them.

 

[PFtrader2012]

NRG breaking both P&F trendline and resistance

 

[PFtrader2012]

NVS

Breaking double top and long term resistance - two birds with one stone?

 

[PFtrader2012]

DLTR

"dollar tree" actually made me some good money back in the days, but now severely under performing

 

[PFtrader2012]

SP500 has had a great move and we are in for a reaction/pullback. We might stay flat also before trying to break out through the resistance.

 

[PFtrader2012]

PHM is a great option for higher prices ahead

 

[PFtrader2012]

AFL having a nice pullback in a strong uptrend. Nothing on the P&F chart that would make us want to avoid trading it.

 

[PFtrader2012]

A Wyckoff Point and Figure charts provides us with a nice overview of the resistance we are meeting in the SP500.

 

[PFtrader2012]

We have had a fantastic run in SP500 (which is higher than Nasdaq). We are very much extended from the moving averages, something that cannot go on forever. Traders should note that we are in for a reaction or to be range bound.

There are bullish topics in the air. According to Lipper, funds got inflow of in $18.3 billion first week of trading this year. The 4th largest inflow since January 1992.

We are exactly at the resistance level.

 

[PFtrader2012]

CMC could do well from here with some resistance coming in at 18.