Tuesday, July 10, 2007

Point & Figure Charts

We've had one down day and apparently the sky is falling again. LOL So lets get rid of the noise and see whats really going on by looking at the point and figure charts. We can see in the first two charts the Dow & S&P appear to be consolidating the big gains is all. For some reason the BKX seems to be very important to a lot of people so lets take a look at that one too. Still in a very solid uptrend and it appears to be consolidating in a triangle pattern with higher lows. Very bullish action. Now how about the Q's. Heck they still can't even put in a three box reversal. I'm not sure if I want to call the end of the world just yet.