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Earl,
I recently added the live S&P E-mini quotes and charts. This past week, I
had some students here who were interested in the intra-day picture. We were
amazed at how accurate the intra-day aspects were, averaging forecasting highs
and lows within 5-10 minutes. Fibonacci did a great job of
projecting price targets. If this keeps up, I may have to go back to being a
day trader.
Cheers,
Norman
Earl Adamy wrote:
> As the was ending and I surveyed my trading in the currencies, spoo, and
> bonds, I realized that the markets just weren't doing what the price
> patterns suggested the markets were going to do. When trading, I have no
> particular bias long or short, I just try to be where the price patterns
> say the market wants to go, but the markets just don't seem to follow
> through. Bonds have been profitable for day trading up and down the 5
> minute chart but that's about it. Based on private emails I've received,
> I'm not the only position trader who has been seeing good setups go
> nowhere or break down for the past couple of weeks.
>
> Bottom line is that I find myself out of tune with the market even as I
> do my best to follow its message. As Friday came to a close, it was time
> to get flat and take a deeper look at the message which the market is
> trying to convey. I may just be out of synch with the market or we may
> be seeing some very important fundamental shifts in market
> relationships. Among the points I will be reviewing this weekend:
>
> a) the US$ has declined further and faster than it "should"
> b) the S&P and NYSE indexes built an extremely bullish multi-month price
> chart but seems unable to follow-through - may signal danger ahead
> c) with the exception of energy and a few others, many commodities have
> failed to sustain rallies in the face of booming world economies
>
> I will post a follow-up when I finish my work, however I'd be interested
> in seeing the thoughts of others on the list.
>
> Earl
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