[Filtering Out Fib Setups]

[Soultrader 12]

Short video on some techniques I use to filter out fibonacci retracement setups.

 

 

CLICK HERE TO VIEW VIDEO

 

 

Charts created by Tradestation

[Nick1984 10]

Just a quick question cause I don't have access to the data for some of those sectors: Whats the Banking Sector and Institution Holding sector specifically measure?

[Soultrader 12]

hmm.. best to check what the basket of stocks contained in the sector.

 

Institutional Holdings Index: No Ticker Symbol - Yahoo! Finance

Banking Index: Keefe, Bruyette & Woods, Inc. : Research or http://www.phlx.com/products/sectors/BKX_origspecs.pdf

 

Watch for the banking sector closely though. It works as a leading indicator at times.

[notouch 10]

As an alternative to looking at sectors you can look at the individual DJIA stocks which include Citibank for banking and Intel for semiconductors. Banking seems to be a laggard in the current rally.

[Soultrader 12]

As an alternative to looking at sectors you can look at the individual DJIA stocks which include Citibank for banking and Intel for semiconductors. Banking seems to be a laggard in the current rally.

 

You think so? Hmm... one of my favorite sectors to watch is Banking and the semi's.

 

Heres a couple strategies for the YM.

 

Let's say the YM is testing the HOD. But Banking Index has failed and the Semi's may be rallying but not near the HOD... I look to fade the YM.

 

If the YM is reaching the HOD but Semi's make new highs followed by Banking... im looking for a breakout. (although I never play breakouts) Basically, I would not short.

[notouch 10]

That's definitely something I need to look into. The more you can read the behaviour of the underlying stocks the better because that's what drives the market. NYSE total volume is also interesting.

[oXo 10]

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