whats up for tomorrow in the sp?

[malvado xetra 10]

after seeing daily charts and 60 minutes charts, looking at elliott curves and RSI indicators. Probably, tomorrow will see a big down. I would like to hear some opinions from the forum.

 

thank you

[Soultrader 12]

Do you mind showing a chart and explaning what you see. Hard to comment without any charts.

[TinGull 10]

Would love to see the charts you're looking at. I agree, it's pretty extended and I'd like to see some "cleaning house" before I buy again. The YM 65min is getting extended from it's 21ema, and I'd like to see it come back down at least around there. The daily hit the top of a wedge today, too. This will make things interesting in the next couple days.

[malvado xetra 10]

Im trying to send some charts from real tick but, I dont know how to do it

[TinGull 10]

When you click "Go Advanced" to reply, you'll see a button below the reply box called "Manage Attachments". Click that and upload your pics.

[malvado xetra 10]

I know Tin. the think is how to select a chart from real tick to put it into the sender box of traderslaboratory. there is not any function on the chart clicking the right botton of the mouse

[weiwei 10]

You would have to save the chart as a pic, then upload that pic.

[weiwei 10]

This is option expiration week, so I would guess that price will be in a range bound mode.

[malvado xetra 10]

Ok, Sorry But, I Have To Send All My Charts In Two Threads.

All The Markets Are In The 5th Wave Daily And In The 60 Minute.

 

Djt Average Couldnt Reach Its Highs Yet. Look At The Big Volume Bar Waiting For Doji In Daily Chart.

 

Mini Sp 60 Minutes 5 Day Chart Presents A Big Doji Inverted Hammer With A Big Volume Bar

 

Nasdaq Composite Has A Candles Figure Asking For A Big Down

 

Nikkei Cannot Go Up Further

 

All Rsi Daily Indicators Are Over Bought

 

It Looks Like The Whole Scenario Is Exhausted

[malvado xetra 10]

The Last Two Charts

[malvado xetra 10]

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 17]

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...

 

---------------

 

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 16]

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 10]

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 16]

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

[notouch 10]

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 10]

Good Morning My Us Traders. Overnight Was A Bit Beary

[TinGull 10]

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.

[Guest 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 10]

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.

[Guest cooter]

Since the official YM settlement is based on the 4:15 close of the DJ pit session, how do you calculate your daily pivots - if you use them?

[TinGull 10]

My pivots are calculated based on the daily chart, which includes the settlement price.

[studyolic 10]

Friday 20th saw strong upwards movements for the FTSE100, Euro Stoxx50 and ASX200. I think there's more room on the upside, at least until mid-May. JMHO.

 

 

(NB. my trades run from 3 - 10 days, so I have a longer timeframe than a lot of the folks here).

[torero 10]

ER2 pulled back to top of the gap and moved upwards til closing. So far so good.