| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| JCP $23.50 |
Person's Proprietary Signal led the bearish clamor with a phase switch on July 29, followed today by bear phase on the parabolic sar and fast stochastic, and continued decline of the macd down toward the zero line and beardom.
Today's volume is running more than 60% over yesterday's, and is three times Friday's volume.
The stock moved down 7.4% intraday, a huge move in anticipation of earnings, to be announced Aug. 13 before the markets open. It would have to be one heck of a downside earnings surprise to justify that sort of move. I would be surprised if such a surprising surprise developed. Not impossible, just -- you know, surprising.
The bear signals have higher credibility because they are in line with JCP's trend. The stock has been trading a series of lower highs and lower lows since March. Today's trading is part of a rise from the most recent low, $20.32, recorded on July 16.
On the Person's chart, the decline brought JCP to the level of the lower weekly pivot, confirming the strength of the move. The next downside pivot is $22.81.
Person's Table
| pps | pps open | upper pivot | lower pivot | |
|---|---|---|---|---|
| JCP $23.50 | $25.08 jul29 | $25.72 +9.5% | $23.72 +0.9% |
The move below the 20-day ma was slight, and it could be that it will turn into a bounce back up in the next day or so. A move below $20.32 would mark a lower low and partially confirm the downtrend. An upward reversal that ended below $25.90 and then declined to a lower low would then provide full confirmation.
Reversal Levels
- $25.90, +10.2%
- $23.50 <== You are here.
- $20.32, -13.5%
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we reemerge from the wreckage.
Disclaimer
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.Abbreviations:
- psar - Parabolic Stop and Reverse
- adx - Average Directional Index
- pps - Person's Proprietary Signal
- ma20 - 20-day moving average
- macd - Moving Average Convergence-Divergence
- sto - Fast Stochastic
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
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