Make sure to take a look at Tony’s post on using the TICK to time trades. It’s an excellent indicator.
GDP came in worse than expected at -5.7 versus the -5.5 estimate and the futures dropped a couple of points, but are still green
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Tony,
THANKS!
Here’s my original chart with the constrictive trendlines of SP500:
http://www.freestockcharts.com?emailChartID=399b73fe-786f-4da9-a76d-9d33ecd6ff3f
George – no prob, hope it helps.
Stringm,
I’ve had no time to write up the trade method. A thumbnail is that it uses the 1,5,15min. When 1min MACD crosses, check the 5 and 15min to see if their MACD is positive OR their MACD trendlines are above the zero line. Swing each 1min and exit at the 1min MACD cross.
The reason for my delay is because of the new indicator you gave me, the MACD with a trendline. Using this it changes the rules. I need to find my trading documents to find the settings and rules for the way I used this – or re-invent another method. Remember, I haven’t tweaked the MACD/with trend line yet. These two types of MACD are very different, however, as I recall, the one with the trendline is easier to program IF the trendline can be captured and used in the code. Check this out to see how different the MACD histogram signals are (not tweaked):
http://www.freestockcharts.com?emailChartID=c7afffe4-52f7-4a6c-8cae-d779bed7cded
Tony:
I checked out your post and found it helpful. Appreciate it!
The story is demand finally catching up to supply with oil/gas? I’ve waited a long time for this story.
I just posted a picture of ThinkAI in action:
http://www.trivisonno.com/thinkai-screenshot
It correctly predicted SPY’s little bounce up over the last few minutes.
George
It looks like one MACD is calculated on simple MA and the other is on EXP. That makes a big difference it appears. So far I don’t find that option in SD, but I am looking.
String
we have gone from alert to now it is a warning ….sell ahead http://lh4.ggpht.com/_APmrYvpA45s/Sh6TbEallFI/AAAAAAAADUM/_wubdOdRo_E/s1600-h/instbsell%5B2%5D.png
narrowminds,
Did you get Glenn’s notice about releasing
free NW info?
So… you resorted to a screenshot instead of sending me a robot? You seeing this George? !!! I got scammed…
Stringm,
Hope your knee feels better…and you are
on recovery road. When you have time
go to…marketvolume.com…scroll down
the page to see what it is all about. And
at the bottom of the page sign-up for
a free 30-day trial if you like what you
saw.
No I did not?
GLD is up over 2% and has blown through the 95.28 target that I mentioned yesterday.
Oh yes I did, I guess we cannot use nw in our discussions, only ew moving forward
K’s moving up in the world. Soon the AI bots will show him respect.
K is back to messing with penny stocks.
Not a good trading day, no movements today, is it a pre cursor to a big move up or down? Sold my long RIMM, it does not look too happy today, 77.3 to 79.46
Obama will speak soon just FYI
The Q’s ran up to within 9 cents of their rally high and have been pushed back, and may turn red. That could have been the test of the highs.
narrowminds,
NeoWave sent out an e-mail this morning.
Subject was “Unauthorized Distribution.”
If you know of anyone giving out free
NW info, they would like you to let them
know.
It was a very strange e-mail…could be one
of the perverse ways they advertise.
narrowminds,
EW…right on!!!
Julie
Knee is still broke, but it is not near as painful as yesterday. Thanks for the link I will check it out.
String
Hey Stringm.. sorry to hear you broke your knee. I can’t imagine how painful that is.
Hope you get better soon!
Matt..
nice little trick using thinkAI there
SPX tested Wednesday’s high and failed
so far. If that holds for the day, we will
have a SPX double top at a lower high
…if we get the double top, odds are 70%
that this will kill the bear market rally…based
on market action since 1920…but don’t
count on it until it happens…use stops.
This chop chop is beginning to tire me out. Up a little, down a little.
Still up on both my SRS shares as well as the calls I sold as a hedge. No point in wasting money on commissions since my day trading skills are noobish.
I hope you’re right Julie in that this is the beginning of the end of the bear market rally, if it is indeed one (which everyone knows to be true, but you never know). We’re pretty much at the limit in terms of duration for a typical bear market rally.
Charlie
I really did not break it, I hyper-extended it I believe. It’s just swollen and tender today. Yesterday was a different story.
String
okay.. I guess that is “better” technically.. still sounds painful though.
Charlie,
You are 100% correct on the time factor.
We are in week 12, and the prior SPX
low-to-low’s took 16,17,18,19,16 weeks.
Subtract 12 and you have the time
window for the next SPX low.
Charlie,
Only God knows when and where the next
SPX low will be. But if it is in the 740 to
750 area, it forms a large inverse SPX
head and shoulders pattern with a target
in the 1100 area if fully played out.
Long time reader, first time commenter. Phil, how do you generate that accum/distrib chart?
Aaron,
He copies it from http://www.stocktiming.com, and they keep the formula secret, though I imagine it involves analyzing large block trades.
Matt
More and more traders are telling us that a
crash is coming. We don’t know if it is or not.
The only crash indicator we know about is
called the “Hindenburg Omen.” It was developed
by one of my Mother’s friends Kennedy Gammage.
Due to our trading style, we don’t use the
indicator.
Julie, I would think monday or sometime next week something might happen
Today is basically end of month goal tending. They won’t let the market fall and they also have a motive to keep the market up to dispel the “sell in May and go away” phrase.
The bulltards need more people to buy into the rally to get it to continue. It is already weakening and hence more pigs need to be lured in. Imagine all those that bought up in 930.. some are still in the dip buying mode.
On the other hand.. having read what is out on the blogasphere.. everyone seems very bearish and hence that is in essence very bullish…
this better not be true or i’m leaving this country haha
http://www.greenfaucet.com/the-market/over-6-feet-tall-pay-up-taxes-that-is/67000
stringm……sorry to hear about your knee…did u have an anterior cruciate ligament tear on the mri????
K,
See Dr. Phil for a height reduction before its too late!
Matt
ThinkAI is frowning upon SPY’s pop over the past few minutes. However, breadth has been creeping up, and its usually not a good idea to get in front of that.
The Q’s were “this close” to making a 9/36/15 cross-under, but turned around just in the nick of time. But they need to keep moving up, otherwise the averages will cross.
The dollar is getting smashed today and the SPX can only inflate by 4 points?
Memo to Dr. Bernanke: You call that inflation???
Julie,
The Hindenburg Omen was sending all kinds of sell-signals last summer. It worked very well. My compliments to Mr. Gammage.
Matt
StockCharts seems to have fixed their fibs. Today they can be set on precise points, unlike in the past.
Matt, that AI is interesting. Let’s see what it says on June 1st.
phil
I have not been to the Doc. I am from the old school of wait till you can’t stand it any longer before going. It’s a whole lot better today anyway. I couldn’t hardly get dressed yesterday, and today I could, so I am good to go!
String
SRS is making a move. That’s usually a bad omen for the market.
ThinkAI 1, Matt 0
ThinkAI was right back here. It’s Paul Bunyan being defeated by the chainsaw all over again.
Matt
Thanks Matt. He’s teaching God today
about crashes.
Matt
Be sure and clue us in if you detect one of those Hindenburg signals.
String
String,
I don’t follow it myself, but some people were posting about it here last summer.
Matt
George said that he had a doctor’s appointment this morning. I hope they turn him loose soon.
SRS got beat back, and now TradeStation is peppering me with bullish alerts.
ThinkAI is, once again, not impressed with SPY’s latest pop. It has a 3:30pm target of 91.32.
String,
Robert McHugh follows the Hindenburg omen
indicator. He posts on safehaven.com from
time-to-time…or you can sign-up for his
service….do not know his latest prices.
Julie
Stringm, start here
http://en.wikipedia.org/wiki/Hindenburg_Omen
String,
Google Robert McHugh…go to his site
and on the right side of the page you
can sign-up for a free 30-day subscription.
Julie
ThinkAI has been saying essentially, “don’t chase, up or down” all day, and it has been dead-on. I’m starting to really like this thing, the only drawback so far is that it doesn’t work with the futures. But since SPY tracks along with the futures, you can use it during the day. Overnight, you are your own.
ThinkAI just turned bearish! SPY target lowered to 90.92.
Julie, Larry
Thanks for the info. I am not too concerned about the indicator. I am sure something like a Hindenburg event would show up on the charts. For one the 20DMA would start declining right Julie.
String
Have I missed much? No breakout yet on SPX daily.
We’re on the right wing of the “BAT” look for 903 support – I just made that up but it sounds nice.
Mitch
On the SPX 5 minute.
Check…http://sjlendam.blogspot.com...
He is 100% correct about the big traders
making a ton of money on market crashes
…down and then up. Even small traders
can make a ton of money…just follow the
big traders.
ThinkAI SPY target lowered again to 90.59.
Right String.
George,
No breakout yet, but you might have made it back just in time.
Matt
don’t you mean breakout for SKF?
K,
Either would be sweet but SKF would be sweeter.
Stringm,
How’s your knee?
Julie,
Could there be a typo in your post? I copied/pasted it, but was told the site doesn’t exist. TIA.
Junglegirl,
There may be. I’ll check.
I’m watching for false breakouts.
ThinkAI is predicting an un-eventful close with SPY right where it’s at now.
EOM, so that makes sense. Looking for a surfable wave coming Monday.
SKF both stocastics at bottom 1 and 5min.
Junglegirl,
Try this. google…sjlendam.blogspot.com…
Let me know if it works.
Julie
george
Knee is much better today, just swollen and tender, but usable.
String
Julie,
sjlendman.blogspot.com. Thanks. I’ll read it this weekend.
Stringm,
Good, glad it’s getting better.
The Q’s are very close to a 9/36/15 cross-under.
I don’t believe in artificial intelligence. From my experience there is much more artificial stupidity.
Junglegirl just became Surfergirl.
The Q’s are saved again, but the 9ma is only .02 above the 36ma.
Just enough green for window dressing.
Junglegirl,
Keep in mind that manipulation is a game
the big boys love to play. Always try to
understand how it is being played…pump
…create the buble and then dump. The
big moves up during the 1930′s were not
due to “real” economic data.
Have a great weekend.
Julie and JG i couldn;t help but google online summarizer.
in 2 sentences the latest blog there says this
Market Rigging Mechanisms – The Plunge Protection TeamOn March 18, 1989, Ronald Reagan’s Executive Order 12631 created the Working Group on Financial Markets (WGFM) commonly known as the Plunge Protection Team (PPT).
“The Counterparty Risk Management Policy Group (CRMPG)Established in 1999 in the wake of the Long Term Capital Management (LTCM) crisis, it manipulates markets to benefit giant Wall Street firms and high-level insiders.
Julie, thanks. You too.
George, Yeehah! And I have 3 boards.
Market chop is making me seasick. Wave count still valid as of a couple of minutes ago. New equations run out further show if we drop here and don’t get the IH&S, then the low may come in the mid-September to late October time-frame, with mid to late October getting the edge.
Both the DAX and the FTSE finished with a mini slide into the close.
The market has done push-ups all day.
Rally high for the Q’s is 35.34. So, they need to make about a 1% move in 15 minutes.
Junglegirl,
During the last NASDAQ bubble, who do you
think paid the experts to come on TV daily
and tell the public that P/E’s of 200 should
go higher???
Always play the game, but put the money
into your account.
Julie
The Q’s are making a spirited attempt at a new rally high, but NDX breadth is only +36 out of a possible 100. Probably not good enough.
Thanks K
Just bought back my covered calls @ 35% profit. Will hold SRS shares over the weekend. Slightly in the red, but no biggie.
Photo finish for the Q’s.
Charlie,
Congrats!!!
Charlie the man with the balls made of American steel.
Thanks Julie
BTW.. didn’t notice it till now, but the USD got slapped silly today.
damn.. I keep violating my no holds over the weekend rule Dressguard
Well, we have a new rally high for the Q’s, but not for SPY, IWM, DIA, or XLF.