08/18/2017 Live Update

[Al_Dente]

I know that this is not the Droid you are looking for,
but the 60 min H&S neckline broke on the open, hot stove, flipped back up, now back-testing the mid-month lows

[te_fern]

Pasta boss, you asked for oil yesterday. Pretty good move in the last few minutes. I don't follow oil, but it was probably some report.....

[Daniel]

Daily, NOT INTRADAY
Dr. Elder's Force Index is....

..my favorite intraday indicator!

AND, also, my least reliable. My next favorite--and next in unreliability--is intraday CMF (Chaikin Money Flow).

The reason they’re so valuable is because they drill down into the essential element of Buying Power. They’re like those candles that wax fatter or leaner on a chart, depending on the volume behind the price move. They can help guide in "tiebreaker" situations, when some other indicator is close to signaling.

The reason they’re so unreliable, intraday, is that the streaming data they rely on is unreliable in short timeframes like 5min or 15min charts. Often the volume data is "estimated". It's not wise to create buy/sell triggers based on "estimated". So please heed Al's admonition, these only become reliable EOD.

Still, as the Haiku poet Issa wrote: "And yet, and yet..."

--They do sometimes give a useful advance warning intraday, often enuf that it's worth tracking them, imo.

[te_fern]

Daily, NOT INTRADAY
Dr. Elder's Force Index is....

..my favorite intraday indicator!

AND, also, my least reliable. My next favorite--and next in unreliability--is intraday CMF (Chaikin Money Flow).

The reason they’re so valuable is because they drill down into the essential element of Buying Power. They’re like those candles that wax fatter or leaner on a chart, depending on the volume behind the price move. They can help guide in "tiebreaker" situations, when some other indicator is close to signaling.

The reason they’re so unreliable, intraday, is that the streaming data they rely on is unreliable in short timeframes like 5min or 15min charts. Often the volume data is "estimated". It's not wise to create buy/sell triggers based on "estimated". So please heed Al's admonition, these only become reliable EOD.

Still, as the Haiku poet Issa wrote: "And yet, and yet..."

--They do sometimes give a useful advance warning intraday, often enuf that it's worth tracking them, imo.

Daniel, do you use the default 13 on stockcharts or some other parameter? Thx to you and pasta boss! This is an interesting addition to the tool box!

[Trades with cats]

Anyone see/read these article ?
http://www.marketwatch.com/story/breakd ... 2017-08-17

http://money.cnn.com/2017/08/15/investi ... index.html

With something like 65% of the S&P 500 down at least 10% from their highs you could write that first article a lot of times. Uncle Warren really likes companies that can gouge consumers on interest rates, as in furniture stores, mobile home companies, and duplicate car insurance. I think GE is completely out of the credit business, but I could be wrong.

[Al_Dente]

Daily, NOT INTRADAY
Dr. Elder's Force Index is....

..my favorite intraday indicator!
AND, also, my least reliable. My next favorite--and next in unreliability--is intraday CMF (Chaikin Money Flow).
The reason they’re so valuable is because they drill down into the essential element of Buying Power. They’re like those candles that wax fatter or leaner on a chart, depending on the volume behind the price move. They can help guide in "tiebreaker" situations, when some other indicator is close to signaling.
The reason they’re so unreliable, intraday, is that the streaming data they rely on is unreliable in short timeframes like 5min or 15min charts. Often the volume data is "estimated". It's not wise to create buy/sell triggers based on "estimated".
So please heed Al's admonition, these only become reliable EOD.
Still, as the Haiku poet Issa wrote: "And yet, and yet..."
--They do sometimes give a useful advance warning intraday, often enuf that it's worth tracking them, imo.

Yes i only use Force EOD daily, for swing or medium term, NOT INTRADAY
can u post a chart showing it intraday, and failing
thanks daniel

[fehro]

dabble short 2431 SPX

stopped out.. invs H&S on QQQ 5m target 142.70 .. if it makes it.. /CL stalling here.. VIXes active

[Wallstreetrader]

shorts reopened

[Al_Dente]

Pasta boss, you asked for oil yesterday. Pretty good move in the last few minutes. I don't follow oil, but it was probably some report.....

thanks boss
today i need a chart of the carry trade
u got one?

[Trades with cats]

I am trying to learn to read volume profile. I think it does help if you can see where the bodies are buried! For example that fast move this morning was through empty space and things really slowed down once we hit an area with a lot of trades, then away we go into a light volume zone again!

[Daniel]

Daniel, do you use the default 13 on stockcharts or some other parameter? Thx to you and pasta boss! This is an interesting addition to the tool box!

I generally use any default from StockCharts, unless I have good reason to do otherwise.

However, that said, a longer lookback period on any indicator gives greater smoothness, and a shorter lookback period is more responsive to current influences. A good approach is to start with the default, and then play with different settings.

Intraday, I would simply say "experiment". These indicators are most valuable when they show persistent divergence, and even quasi-unreliable intraday bars, if all telling the same story, can be valuable.

For example, if price has been sideways for several hours, and these volume and buying-force readings are all consistently negative, that message is broadly one of "distribution"-- even if any given bar is not totally accurate. Likewise with very weak price-- but only neutral buy-pressure readings... this could indicate slow accumulation.

Etc. This is an area which I find to be more art than science.

[fehro]

mind the possible hammers on the index dailies.. . .bulls want/need them… way way to early in the day.. something to watch near the close..

[Al_Dente]

another leak:
bannon is out

[add edit:] Matt Drudge: "Bannon Out At White House"

[te_fern]

Daniel, do you use the default 13 on stockcharts or some other parameter? Thx to you and pasta boss! This is an interesting addition to the tool box!

I generally use any default from StockCharts, unless I have good reason to do otherwise.

However, that said, a longer lookback period on any indicator gives greater smoothness, and a shorter lookback period is more responsive to current influences. A good approach is to start with the default, and then play with different settings.

Intraday, I would simply say "experiment". These indicators are most valuable when they show persistent divergence, and even quasi-unreliable intraday bars, if all telling the same story, can be valuable.

For example, if price has been sideways for several hours, and these volume and buying-force readings are all consistently negative, that message is broadly one of "distribution"-- even if any given bar is not totally accurate. Likewise with very weak price-- but only neutral buy-pressure readings... this could indicate slow accumulation.

Etc. This is an area which I find to be more art than science.

Thank you! As you suggested i will experiment some with this one!!

[Wallstreetrader]

...

[te_fern]

Pasta boss, you asked for oil yesterday. Pretty good move in the last few minutes. I don't follow oil, but it was probably some report.....

thanks boss
today i need a chart of the carry trade
u got one?

No, that one doesn't ring a bell. What instrument do you want the carry on? Yen?

[Al_Dente]

I am trying to learn to read volume profile. I think it does help if you can see where the bodies are buried! For example that fast move this morning was through empty space and things really slowed down once we hit an area with a lot of trades, then away we go into a light volume zone again!

nice chart boss thanks
we don't have such on stockcharts (do we?)

[Cobra]

the pullback might be bought again

[Wallstreetrader]

...

[fehro]

Classical pump and dump (bear flag) ?
yesterday here was a problem to pass ...

bulls happy with themselves at the index hammer daily candle.. now bears roll in for fight.. lol.. the close will determine the winner