Friday Look Ahead: Markets End a Hot July Looking in the Rear View Mirror at Q2 GDP
Stocks head into the final day of July with the best monthly gain in a year, yet July’s hot performance has only sparked debate about what August will bring.
Stocks head into the final day of July with the best monthly gain in a year, yet July’s hot performance has only sparked debate about what August will bring.
Whirlpool (WHR) came across the
triple bottom break scan
. The stock is in a clear downtrend with lower lows and lower highs since May. WHR broke triple bottom support twice in the next few days and the downside price objective is 74. This objected is based on traditional P&F counts.
How can I change the box size or reversal amount in a P&F chart? Dynamic Point & Figure charts are the answer – and they are really cool. These charts allow users to change the box size and reversal amount with sliders, which make the changes in real time. Here are the steps. First, start with a normal P&F chart. Second, click the "dynamic" link just above the P&F chart. Third, click on "user defined" at the top of the dynamic P&F chart. This will show sliders on the right side. The top slider can be used to adjust the box size. The bottom slider can be used to adjust the reversal amount. Changing these sliders will make the chart more or less detailed. There is also a slider at the bottom that can be used to adjust the number of days. Using these three sliders, users can seriously pimp their charts. Click on the chart below to see a live dynamic P&F chart.
Click this image for a live chart