Trading with point and figure

[Moneylender]

DAX forming a nice base @ 12750 area, red trend live is res, something has to give.



Added the 12780 level for you 007.

Trend line is much more robust than levels!!!

 

[Dentalfloss]

dow...below our 21370 supp area
that was on the index....so it could rally at or before open to that area
will 21370 be rez..??

 

[Dentalfloss]

Not sure I want to read that one!!!!

Volume 1 is over a 1000 pages
workin on Vol 2 now

 

[Dentalfloss]

nas 100 dumped premarket...techs..?? troublemakers

 

[Dentalfloss]

cable...bounced off our 1.2717
luvin it

 

[Dentalfloss]

Before the Open (Jun 23)
by admin on June 23, 2017
in Before the Open
1 Comment
Good morning. Happy Friday. Happy Russell rebalancing day.
The Asian/Pacific markets closed mixed. China and South Korea moved up; India and the Philippines moved down. Europe is currently mostly down. Russia and Greece are up; France, Germany, Finland, Switzerland, Spain, the Netherlands, Italy, Portugal, Austria and the Czech Republic are down. Futures in the States point towards a mixed and flat open for the cash market.
—————
VIDEO: LeavittBrothers.net Overview
—————
The dollar is down. Oil is up a small amount; copper is up. Gold and silver are up. Bonds are down.
The Russell does its rebalancing today. They rank stocks by market cap. Then top 1000 are the Russell 1000; the next 2000 are the Russell 2000. The combination of both is the Russell 3000. Pretty simple. No determining company strength or prospects – it’s entirely by market cap. There are a few other indexes, but those are the main ones. There will be Russell 2000 companies that get moved to the 1000 and vice versa, although I don’t know the exact number. There will also be companies that fall out and others that will be added for the first time. So today will be a very active day in terms of volume but not necessarily in terms of price movement. Some index fund managers will need to buy certain stocks while selling others, but in most cases the needed buying and selling will be equal.
Beyond this the market is doing fine overall. Most important with regards to the indexes is whether the small and mid caps can hold their 50-day MAs. I’ll discuss this over the weekend in the weekly report.

from Jason Leavitt

 

[Dentalfloss]

dow...below our 21370 supp area
that was on the index....so it could rally at or before open to that area
will 21370 be rez..??

bounced back to that area
dax and ftse went with it

 

[Dentalfloss]

techs lagging
at 5770 rez...prev supp area

 

[Dentalfloss]

eurgbp bounced again from our 0.8776
for a few

 

[Dentalfloss]

dax..our 12720 became rez

 

[Dentalfloss]

eurjpy and gbpjpy ...messy so far
no trades on those...as yet

 

[Dentalfloss]

oil started a new downtrend on 15 min bars
this morning

 

[Dentalfloss]

oil started a new downtrend on 15 min bars
this morning

pulling stocks with it

 

[Dentalfloss]

42.50 poss supp...there now

 

[Dentalfloss]

21390 is a wide horizontal supp
bears happy with that at rez

 

[Dentalfloss]

21312-21350 a big supp area
21344 to be a bit precise
chart comin

 

[Dentalfloss]

21323 turns a tad nasty

 

[Dentalfloss]

otherwise 21300 and poss 21281

 

[Dentalfloss]

we expected 21344
we got nearer 21323
Dont rely on levels

 

[Moneylender]

oil on the move north