Point and Figure charts make it Brain Dead Simple.
$BPNDX - Bullish Percent
The rule is a move from above 70% to below 70% is time for a defensive position.
........131. Nasdaq 100 Index ($ndx)
Look left to be right. The number is 3837 going back to June of this year and still support as of July (so far).
.....2 $INDU - Daily Candlesticks, 1024
May 2nd! The intra-day high for 2014 last April was 16631.63. How about where price was last January?
Look left to be right!
.....22. $INDU Traditional PnF chart
July 16th! A Bullish Catapult Pattern. The most powerful signal in PnF charting, but no guarantee.
....151. $SPX -
1985 is a Ted Line
....152. $SPX - 1 hour Candlesticks, 1024
Zooming in on price so we can see what price does when it gets to one of those Ted Lines! The e-book explains it all and daily videos shows how it's done 'on the go'!
....86. GLD - Daily Candlesticks, 780
The prinicple is that price is King and when it finds previous levels of support (or resistance) it will 'remember'! 128 the breakdown point last March!.
....87. GLD Traditional PnF chart
Sell signal in April 2013 and support in December 2013 at 116.
Oh! So simple!
1 NYSE Bullish Percent Index (EOD) ($BPNYA)
Knowing where it happened before is often a valuable piece of information. Less than a buck a day to learn how it works.
1. $OEX - Daily Candlesticks
Support and resistance is where we may expect a change of momentum or direction and this is just one example.