Not a whole lot of information could be gained this week to support either the IT bull or bear alternates. But the bull alternate has to given a slight edge here, if for no other reason than the bear alternate is running out of real estate. The drop dead point for the bear alternate is at ES 1419.75, perilously close to current levels.
For current detailed charts and analysis click HERE.
You have been trying to get in front of the market, Al. :D Look what that got you. Everytime. lol One of the things I learned from you is to wait for trendline break to enter a position.
ReplyDeleteYour next trade will be a big winner, as per your usual win-loss pattern. :D
Actually my recent trading HAS been based on trendline breaks, but off a new approach I've been developing since last winter. It's very similar to what I've published before, but it's based on a 10 minute chart of the SPX cast against a momentum oscillator and a study of the NYSE tick. I'm attaching a chart set. Bottom chart is the TICK study. Signals are generated by trendline cross + oscillator cross above 20 or below 80 + TICK signal (thick blue line) crossing above or below 0. One obvious problem with this thing is the overnight action in the ES. The other is false signals, which is what happened to me yesterday. Finally, I've been traveling on business a lot this summer, hard to stay on top of the markets from airports etc - been getting burned as a result.
ReplyDeleteI've been debating whether to publish the details of this system, probably will at some point.