Point and Figure charts make it Brain Dead Simple.
...411. NASDAQ 100 Shares (QQQQ) candle
Now we can see that within the margin of error of 1/2 of one percent that 100 +/- .50 cents has been an important level before.
One message! If you know how to to accurately find support and resistance you can make it work for you.
If you don't know, you don't know! It's in my e-book!
It is all about objectively defining where price has changed momentum or direction in the past. These are the TED Lines and they are posted in advance are are light years ahead of any other indicator.
1. $INDU - Daily Candlesticks, 1024
January 16 close 17511
Dec 31 close 17823
Nov 28 close 17828 (Last trading day of November)
11. $INDU - Monthly Area, 1024
Nov 7th! As of the close the DOW has gained over 4500 points since November of 2013. The horizontal line is simply a reference point.
11.$INDU Traditional PnF chart
December 22nd. 17950 was the previous high recorded on this chart and price is back to take another look.
12.$COMPQ - Daily Candlesticks, 780
Watch what happens, and then stop watching and learn how to avoid mistakes! www.tedslines.com
123. $BPCOMPQ - Daily Histogram, 1024
click here to add comments
131. Nasdaq 100 Index ($ndx)
The Ted Line value at 4065 is taken from a PnF chart going back to 2000 The a move of 1/2 of one percent or 20 points above or below the line is considered normal.
132. $BPNDX - Default Style
When bullish percent falls from above to below 70% it is time for a defensive position.
When Bullish percent moves from below 30% to above 30% its time to shift the bias. Fell below 70% when options expired in September.
Today is Friday Oct 17th and it's back to options expiry day, exactly one month later.
151. $SPX -
Just keeps making moves at those Ted Lines.