03/08/2012 Intraday Watering

[knurbs]

Per Tom DeMark Range Expansion Algo

Quite interesting - but I guess nobody here really understands it... I don't.

Looked to me like he was saying it has about a 50/50 chance of going up or down from the open...

[uempel]

I posted this in the early morning on Cobra's blog - I guess you guys were still asleep

[Al_Dente]

Internals 1 min
Nyadv came out of the gate strong bull at >2300 and is now slowly giving it up. Bulls may still have a chance if it can stay above 2000.
Volume flow (inverted trin) is too weak at the moment….
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

Note on the 30 min chart, the second panel $NYAD is my attempt to approximate the $NYMO intraday (using a 2ema on $NYAD).
You can see that it’s been quite sensitive in locating very short term tops/bottoms (pink circle).
Today, as soon as it crosses back down over its red-dotted signal line, it will call out a very short term top.
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
(Thank you to RocketMan88, Taggard, and EvilTrader for their NYMO intraday input last month).

[CMT]

Could this be as simple as a back test? We won't know the results of Greece until tomorrow morning BTW. Seems setup for bad news, especially with negative money flows yesterday and I'm sure the same for today. Only 39% is committed at this point and they are all part of the team, I seriously doubt it will be that easy for the rest but who knows!

[uempel]

Update:

[tomsky]

Could this be as simple as a back test? We won't know the results of Greece until tomorrow morning BTW. Seems setup for bad news, especially with negative money flows yesterday and I'm sure the same for today. Only 39% is committed at this point and they are all part of the team, I seriously doubt it will be that easy for the rest but who knows!

Stocks gained on speculation Greece will reach its participation target by the deadline of 10 p.m. in Athens. Holders of about 60 percent of the Greek bonds eligible for the deal, including Greece’s largest banks, most of the country’s pension funds and more than 30 European banks and insurers, have agreed to the offer.

source: http://www.bloomberg.com/news/2012-03-0 ... -swap.html

[BullBear52x]

This could turn out just to be a gap filled, daily RSI will tell if bull can hold up this trend. not looking so good for bulls even with this huge up.

[Harapa]

Per Tom DeMark Range Expansion Algo

Quite interesting - but I guess nobody here really understands it... I don't.

Uempel like anything else one needs to understand utility of the information before making an attempt to us it. Complete explanation of DeMark’s work is beyond the scope of this day trading forum. Nevertheless, here is an excerpt from Jason Perl’s book on DeMark indicators.

“….., you can isolate instances in which, if the market breaks the first upside level, it is likely to reach the second upside level on an intraday basis.

For example, if yesterday’s close was a down close compared with the previous day’s close, and then price takes out yesterday’s true range multiplied by 0.382 and added to today’s open, there’s a good chance the up move will extend higher toward yesterday’s true range multiplied by 0.618 and added to today’s open on an intraday basis.
Conversely, if yesterday’s close was an up close compared with the previous day’s close, and then price takes out yesterday’s true range multiplied by 0.382 and added to today’s open, I’d be inclined to fade the market, and go short on an intraday basis if it reaches yesterday’s
true range multiplied by 0.618 and added to today’s open.

Similarly, if yesterday was an up close compared with the previous day’s close, and then price takes out yesterday’s true range multiplied by 0.382 subtracted from today’s open, there’s a good chance the down move will extend lower, on an intraday basis, toward yesterday’s true range multiplied by 0.618 and subtracted from today’s open.
Conversely, if yesterday’s close was a down close compared with the previous day’s close, and then price takes out yesterday’s true range multiplied by 0.382 and subtracted from today’s open, I’d be inclined to fade the market and go long on an intraday basis if price reaches yesterday’s true range multiplied by 0.618 and subtracted from today’s open.”

BTW, Jason’s book is easily downloadable from the net free of cost. There is also a power point out there by DeMark, et al. that can be used to learn his Trading platform.

[uempel]

Thanks Harapa!

[BullBear52x]

INDU and RUT suggested, sell the RIP
QQQ suggest buy the Dip
SPY today if it can hold here will be really positive going forward.

Line in the sand.

[tomsky]

BTW, Jason’s book is easily downloadable from the net free of cost. There is also a power point out there by DeMark, et al. that can be used to learn his Trading platform.

Can you post the full name of the author, please? Can't find anything related to jason and range. Thx.

[Harapa]

BTW, Jason’s book is easily downloadable from the net free of cost. There is also a power point out there by DeMark, et al. that can be used to learn his Trading platform.

Can you post the full name of the author, please? Can't find anything related to jason and range. Thx.

http://books.google.com/books/about/DeM ... KUmkWt-DEC

[jimme]

INDU and RUT suggested, sell the RIP
QQQ suggest buy the Dip
SPY today if it can hold here will be really positive going forward.

Line in the sand.

I am very comfortable with my SMH puts right here. I think there is going to be a big down move from right here. GLTA jimme

[BullBear52x]

INDU and RUT suggested, sell the RIP
QQQ suggest buy the Dip
SPY today if it can hold here will be really positive going forward.

Line in the sand.

I am very comfortable with my SMH puts right here. I think there is going to be a big down move from right here. GLTA jimme

see /ES, big bear flag, we trade lower or /es breaks down the trend will continue it's downward pressure. IMHO.

[tomsky]

BTW, Jason’s book is easily downloadable from the net free of cost. There is also a power point out there by DeMark, et al. that can be used to learn his Trading platform.

Can you post the full name of the author, please? Can't find anything related to jason and range. Thx.

http://books.google.com/books/about/DeM ... KUmkWt-DEC

thx.

[Cobra]

nothing to say, rejected by MA as resistance but bouncing from the support, need wait for the range to break first.

[uempel]

Internals 1 min
Nyadv came out of the gate strong bull at >2300 and is now slowly giving it up. Bulls may still have a chance if it can stay above 2000.
Volume flow (inverted trin) is too weak at the moment….
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

Note on the 30 min chart, the second panel $NYAD is my attempt to approximate the $NYMO intraday (using a 2ema on $NYAD).
You can see that it’s been quite sensitive in locating very short term tops/bottoms (pink circle).
Today, as soon as it crosses back down over its red-dotted signal line, it will call out a very short term top.
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
(Thank you to RocketMan88, Taggard, and EvilTrader for their NYMO intraday input last month).

Al_Dente, your first chart sure helped me get out of my early morning shorts - thanks! Today was pretty good, pre-market the ES went up to 1366 and offered ample opportunity to short. I had to get up early and now I'm done. Might do something at the close or in AH. Again - thanks for your chart and happy trading

[TraderGirl]

Are we going to have a C wave down??

[Al_Dente]

Internals 1 min
Nyadv came out of the gate strong bull at >2300 and is now slowly giving it up. Bulls may still have a chance if it can stay above 2000.
Volume flow (inverted trin) is too weak at the moment….
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
Note on the 30 min chart, the second panel $NYAD is my attempt to approximate the $NYMO intraday (using a 2ema on $NYAD).
You can see that it’s been quite sensitive in locating very short term tops/bottoms (pink circle).
Today, as soon as it crosses back down over its red-dotted signal line, it will call out a very short term top.
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
(Thank you to RocketMan88, Taggard, and EvilTrader for their NYMO intraday input last month).

Al_Dente, your first chart sure helped me get out of my early morning shorts - thanks! Today was pretty good, pre-market the ES went up to 1366 and offered ample opportunity to short. I had to get up early and now I'm done. Might do something at the close or in AH. Again - thanks for your chart and happy trading

99.png

hi uemp, glad the internals help
Keep yr eye on that iniverted trin; she frequently moves before it is reflected in SPY price
Still on test, but she’s rapidly becoming my earliest signal FWIW, even tho she’ll often reverse on a dime…
She’s very skittish on the 1 min and a bit more stable on the 5min
Right now she’s saying there may be more bull left here; nyadv agrees at the mom
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[Cobra]

Doji and Hammer, not a good looking hourly bar. I don't mean a strong down bias of course, need watch the next few bars, overall, I see up momentum is weakening.