Having studied various charting techniques over 50+ years, I don’t use  P&F because it is reactive(after the fact) and I am anticipatory. While I like to look at numerous disciplines for perspective, I have found P&F to be good at telling you what just happened but doesn’t help me, because it only confirms upside reversals and or breakouts, after the fact. (If I am watching a baseball game, I don’t need the announcer to tell me that someone just hit one out when I saw the ball go over the wall.) Case in point, is a stock I am going to recommend here on a drop to the 60-61 area. Regular charts show what looks to be a bottom. I accept, that with the 6 month lockup period approaching, there could be downside pressure but it looks like that selling has already taken place. My point about P&F, and I don’t know what practioners would have said at the top, or on the way down, they called out a breakdown based on Wednesday’s action.(good short term call) Granted, it probably will drop another 3-5%, but that is where I am looking to get long.(and P&F won’t switch to positive until after a big upside reversal). This appears fundamentally to be overvalued, and it may take years before it exceeds it’s high, shortly after going public, but I believe it will be a huge, long term winner if bought in the lower 60’s. Even short term traders could see a bounce to fill the gap near 120.  I like AI at 60-61.