Bearish Resistance Lines During this video, Tom describes the bearish resistance line. The bearish resistance line is similar to the bullish support line, which Brendan explained recently here: https://mullooly.net/what-is-a-bullish-support-line/8037 Bearish resistance lines are the exact opposite of bullish support lines. When a security is trading below its bearish resistance line, it’s said to be in… [Read More] What is a Bearish Resistance Line?
point and figure
We have two quick updates on the S&P 500 and NASDAQ Composite indices today. Both are sending encouraging signals on their point and figure charts. They seem to be setting up for one of two potential patterns: the bullish catapult or the shakeout. Both the bullish catapult and shakeout are very bullish patterns. Of course,… [Read More] Point and Figure Update: March 23, 2015
The Shakeout On this week’s Mullooly Asset Management video, Tim explains a point and figure pattern called the shakeout. While we refer to it as the shakeout, technically its name is the bullish shakeout formation. Like some other point and figure patterns, you can probably imply whether it’s a positive or negative development based off… [Read More] The Shakeout Pattern
For the ninth week in a row, the amount of US Crude Oil in storage has expanded. The US seems to be at a crossroad with too much oil, and nowhere for it to go. Matthew Phillips wrote an article for Bloomberg last week that reiterated some mutual feelings on this situation. Since October, the… [Read More] What To Do With All This Oil?
https://media.blubrry.com/invest/p/content.blubrry.com/invest/Foundations_of_Our_Strategy_Point_and_Figure_Basics_March_2015_Podcast.mp3Subscribe: Android | RSSAt Mullooly Asset Management, one of the foundations of our strategy is point and figure charting. Point and figure charting is a type of technical anaylsis that tracks security prices through columns of X’s and O’s. People successfully use other types of technical analysis to manage money, but we prefer point and… [Read More] Foundations of Our Strategy: Point and Figure Basics
Bullish Support Line In this video, I discuss the bullish support line, an integral part of point and figure charting. The bullish support line helps us to identify a security’s overall trend, which is the first step in determining its viability as an investment. Tom Dorsey wrote in his book, Point and Figure Charting, that… [Read More] What is a Bullish Support Line?