Welcome back to our weekly charts and analysis from the point and figure space (read long term in the context. We continue our series on Point and Figure charts from last week. Mark will update with his technical picture later in the day or tmrw.
As advised a few of the charts and setup have been kept free. We will cover Gold, SPX, EURO Index, Yen Index, AUD Index.
We have had a remarkable opening to 2013 but from the point and figure charts nothing is out of place. To study the point and figure charts beyond what I provide here, you must acquaint yourself with the various patterns on markets. There are at least 12 patterns which we deal here but modern point and figure charts have over 40 patterns to study. Point and Figure charts are not just about a few zeroes and crosses but it is useful in identifying specific patterns. I agree that once the pattern has been found, finding the bearish or bullish PO is a matter of mathematics that is not to put two finer points to it.
We are at a crucial level on the SPX. It is so crucial that it will need a resolution as early as next week preferably Monday. On 2 Jan 2013, SPX had a double top breakout with a bullish PO of 1600. On friday, the target was revised up to 1615 but please note the triple top in place at 1472. If we do break out and close above 1472 we could see a major rally towards the bullish PO. Mind you the P&F targets are Longer term in nature.
The yen index met its P&F bearish PO at 119. There are no new patterns to trade on yen p&f.
You need to be a subscriber with Captial3x to read on….. Subs have access to all the market analysis (Copper,BDI, Gold, US treasury, EU bond markets) and FX setups which also feature our FX portfolio. You also have access to Trade Room of Capital3x.
The euro index has an ascending triple top breakout at 132.5 on 11 Jan 2012. This has given us a new bullish PO at 139.5. Watch out for any high pole reversal for a neutralisation of the bullish PO if at all.
The Australian dollar has bullish PO at 108. There was mini double top breakout at 105.4 on 10 Jan 2013.
Important Links at Capital3x
GOLD has no new targets as it met its previous bearish PO at 1660.
- The Trade Copier
- The Jan 2013 Live Trade Sheet
- The Live Trade Room
- The Charts corner
- Trade Copier
- C3X Performance FX portfolio
Capital3x provides the ever reliant intermarket signals for its subscribers. They are absolutely free to our subscribers. TRADING MEMBERSHIP SUBSCRIPTION
The Indicator links are provided here:
1. Falconfx EUR/USD
2. Falconfx EUR/JPY
3. Falconfx USD/CAD
4. Gladiator ES