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Moving further downwards. We have already broken the technical level on the SP500 that we identified time ago. We will see a pullback at some point, but for now we are continuing to focus on the weak stocks to short. CPE has a double bottom point and figure pattern at 4.50 on the 1% chart...

EXC looks so bad it does not even fit into the percentage point & figure chart without zooming http://www.paf.am/?di=LCP7

SO I don't want to own Southern http://www.paf.am/?di=ZP0D

PPL Somewhat strong compared to the others, but at an interesting technical level http://www.paf.am/?di=43MZ

PCG approaching 39-40 level P&F trend line http://www.paf.am/?di=HC0U

Approaching or breaking nearest 45 degree point & figure trendlines: AEE BREAKING: http://www.paf.am/?di=K1SM

Facebook stock technical analysis Assuming Nasdaq will perform worse in a bear market, it is safe to assume FB will perform badly as it has since the IPO. Action has been terrible and I feel for the people who bought there and then on promises. Who dares touching this one now. There are some...

Sundays are good for doing general market analysis before markets open on Monday. I'd rather take Friday afternoon off, and do it on Sundays instead. S&P500 has been weaker than Nasdaq, on a long term scale - Big chart on the right is the Relative Strength of SPY and QQQ...

CLNE - We have already fallen through the support that has been in place since June. We had a pullback which I missed, and now a double bottom pattern, one of the basic point & figure patterns. http://www.paf.am/?di=28XM

D - here we're also at the support. The option is to enter on the break through, or wait for pullback afterwards. http://www.paf.am/?di=5OVB

DUK - a nice "flagpole"? Are we heading down all the way? http://www.paf.am/?di=6RZ9

FE - we're at the support, could enter on the break through, or wait for pullback would the breakout come. http://www.paf.am/?di=5OVB

Let's look at some short candidates, The bottom fell out - waiting for a bear pullback - XEL on a 1% chart http://www.paf.am/?di=LPM4

An interesting thing to note, perhaps without much importance, is that the areas marked with the gray background are quite similar, while the first one is a little bit larger. Counting the final down moves in these areas, in the first one we had 10 Os down, in the current one we currently...

Yes we're heading downwards. The volume has picked up significantly - what I would call heavy selling. The point and figure chart shows two levels of support at 137, the previous resistance level and a minor 45 degree trendline - both at the same level of 137. Another 45 degree trendline...

Is it safe to say that the general market does not like the elected president? No confidence in the president's abilities to solve the financial trouble? Is it safe to say that the market had a terrible day? We officially jumped into the deep water, with a big splash. Huge bar, huge...

Point & Figure has its built in "filter" - you set the box size and reversal size and you can actually avoid the chop. E.g. If you use a box size of 5 for a stock trading at a price around $100 it can chop around as much as it want at 90, 91, 92, 91, 92, 93, 91, 94, 91, 92...

First of all, sorry the post yesterday should have been SRPT and not SPRT - two different securities. The one in my pics is SRPT. Ever bought or sold the wrong stock? I have. You feel like an idiot when you do. It happens to everyone once in a while I guess. Anyway.... We had...

I just had to include this one also. SPRT. High risk - high reward? I normally do not like these companies that are driven by news, but this pharmaceutical company apparently had a drug approved or something and the news made it blow through the roof. Now we are in a pullback after that news...

Then some Rock n roll: ROK The last three days have been exceptional. The formation leading to that crazy breakout is quite strange with lower lows and lower highs. That's what some people would call a flag. Chart patterns were my introduction to price action analysis and trading. From...