I need a little more information. I looked at the SPX:GOLD PnF chart, and I don't see what you mean. Unfortunately, I can't post a PnF chart to show you what I see.
Larry
Howard
Re: SPX:Gold P and F
April 1 2004, 8:19 PM
Larry,
This last row is a row of zeros starting at 2600; 2 rows over is another row of zeros starting at 2600; and 4 rows over is another row starting at 2600. It's arranged such that it would be a breakdown if the ratio touched 2550. But would it be a double bottom breakdown? Does that 3rd row make it a spread triple?
I'm not sure if it's even important, I just have a sense that if the chart had support there twice before it means more than if it was only once before.
h
Re: SPX:Gold P and F
April 2 2004, 10:14 AM
Howard,
It looks like a spread triple bottom to me. It is at 264 now. If it gets to 256 it will be a spread triple bottom breakdown. At least, that’s the way I think Stock Charts will define it. If not, it will be a triple bottom breakdown. But anyway, I agree that 260 looks like important support.