whats up for tomorrow in the sp?

[malvado xetra]

Tingull,

Ive Been Seeing Your Two Charts. Im Very Keen On 60 Min Candles And Volume Bars As You Look Like, Too. But, Why Do You Use A 65 Minute Candle Graphic? Is There Any Secret On It. Id Like To Know. Thank You

[brownsfan019]

My personal opinion - I really don't care which way it looks like things 'might' go. As long as the markets are moving, there are plenty of opportunities - up or down.

I posted this on elitetrader and perhaps it's appropriate here as well...

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I just don't understand why traders get stuck on a direction of the market (usually up or down) and then live or die with their prediction.

Why bother trying to make a prediction as bold as - Dow down 100 pts tomorrow! or Just bought a ton of DIA puts! etc. etc.

We'd all love to call the tops/bottoms consistently, but that will never happen.

Why not just go with the flow and make some money? Why put your money at risk with predictions that are so bold and possibly risk so much of your account in order to do so?

It's interesting to see the threads pop up when there is some volatility in the markets and the predictions start to come out...

[Kiwi]

I pick that you guys could be in for a great down day. HSI has been fantastic today. Around about 400 points down so far and very little of that in the opening gap

Good luck.

[torero]

I agree with brown. Since I rely on patterns to view the market, I usually don't make a bias until the patterns are confirmed (resistance becomes support and vice versa). The selling off during the Shanghai market drop left quite a dent on the pattern, forming a rising wedge. It's broken down but it still has to prove itself by rolling over. So far it hasn't, so it's still bullish. A related pattern to this is a possible double-top (each trader sees the market differently). But nothing is confirmed yet.

[Kiwi]

As long as you trade what you see ... life will be a box of chocolates.

[notouch]

Everyone has to make predictions, just on different time frames. One person is predicting the Dow will go up 10 points in the next 5 minutes, another person is predicting it will go down 200 points in the next 2 days. So it's perfectly valid to say "I think the DOW will go down 100 points today" if that's what your daily charts are telling you. Intraday scalping isn't the only way of trading.

[malvado xetra]

Good Morning My Us Traders. Overnight Was A Bit Beary

[TinGull]

Yea..predictions are part of the fun It's always gonna move, so we never have to worry about that. As for the 65min chart, it gives you the full information of the regular trading day (930-4pm). Since a 60min bar would leave you with 30minutes inside of one bar, you simply take that extra 30minutes and spread it between the rest of the bars with a 65min bar. Does that make sense? A little thing given to me by Leroy of tradingeveryday.com.

[cooter]

This assumes that you are done trading at the 4pm cash close, and not the 4:15pm futures close. What would you do if you have 405 mins instead of 390?

Are your YM charts setup from 9:30-4 or 9:30-4:15? Or 8:20-5?

[TinGull]

That is true. I am done with the markets at 4, and the information that comes through between 4 and 5 is hardly ever a new high or low on the day. I have multiple sessions I watch for the YM. From 830-5, 930-5, and 930-4.