Jump to content



Photo

ANOTHER TRADING TOOL SETUP


  • Please log in to reply
11 replies to this topic

#1 mss

mss

    I'M WATCHING

  • TT Sponsor
  • 6,176 posts

Posted 12 June 2009 - 10:19 AM

:)
Here is a short to intermediate trading tool setup, and when the market is trending it should keep you on the correct "trading" side of the trend. The charts are live and update as price changes.

The first chart is the - usable for trading - and the second is a longer term history for comparison as to changes and their implications.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=0&dy=0&i=p61878732466&a=170660250&r=9518.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=2&mn=6&dy=0&i=p35866853507&a=170659987&r=5253.png

Questions and comments welcome.

mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#2 klono

klono

    Member

  • Traders-Talk User
  • 351 posts

Posted 12 June 2009 - 12:07 PM

mss Do the charts currently imply the correct position is long the S&P? I was always told there is no such thing as a stupid question. :huh:

#3 mss

mss

    I'M WATCHING

  • TT Sponsor
  • 6,176 posts

Posted 12 June 2009 - 03:00 PM

mss

Do the charts currently imply the correct position is long the S&P?

I was always told there is no such thing as a stupid question. :huh:

No question is stupid, answers are sometimes. :rolleyes:

The charts tell ME, if you are long stay long, but tighten stops. If you are short, your entry should be close to yesterdays low. If you are not long or short, do not take a position till a firm direction change is ID. Momentum is getting weak per the two MACDs at the bottom of the chart plus RSI is flat.
The charts may tell someone else something different.
Hope this helped.
mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#4 mss

mss

    I'M WATCHING

  • TT Sponsor
  • 6,176 posts

Posted 16 June 2009 - 03:25 PM

:)

I would like to say we have had a trend change, but it currently is only very weak and at best is in a consolidation mode per the chart attached. As discussed above, if long you should have stopped out, and if short and still in OK. If you were out, a short could have been taken, but the chart does not suggest that to me. [day traders having a ball] I am not a day trader. A short might be OK tomorrow if we get a bounce. But RSI is below 50; MACD 3,13,1 is below 0 and the MACD 8,34 is declining suggesting that if the consolidation does not hold, around 885, then we are in for 850ish. TWT

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=10&i=p93848792833&a=155480059&r=91.png

mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#5 inamosa

inamosa

    Patterns-based Trader and Investor in ETFs and Futures

  • Traders-Talk User
  • 1,638 posts

Posted 16 June 2009 - 11:46 PM

Thanks for the updates as always, mss They are appreciated
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months

#6 mss

mss

    I'M WATCHING

  • TT Sponsor
  • 6,176 posts

Posted 26 June 2009 - 09:00 AM

I would like to say we have had a trend change, but it currently is only very weak and at best is in a consolidation mode per the chart attached. As discussed above, if long you should have stopped out, and if short and still in OK. If you were out, a short could have been taken, but the chart does not suggest that to me. [day traders having a ball] I am not a day trader. A short might be OK tomorrow if we get a bounce. But RSI is below 50; MACD 3,13,1 is below 0 and the MACD 8,34 is declining suggesting that if the consolidation does not hold, around 885, then we are in for 850ish. TWT

mss


Well I hope those who have followed this thread had all of your stops in place based on your own risk/reward tolerance. IMO we have not had a trend change, based on the BLUE DASHED TL was not broken. I expect it to be tested today or first part of next week. IF it holds then we have confirmation that the "bullish bounce" in a Bear market will continue. IMO 1003 is the testing point for a retrace much lower or we head higher to 1100. There are other numbers tossed around and may be just as good or better than mine TWT.
Currently RSI is above 50 but weak, the MACDs have turned back up with the 8,34 actually not breaking "0" and kissing back up-a strong suggestion of underline strength. If the 3,13 crosses back above the "0" line and crosses above the 8,34 we are up and away. The brave could add to longs or re-enter long with proper stops. Just my thoughts.
mss

ps: I will be unable to respond to any questions till after noon Mon. 29th
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#7 klono

klono

    Member

  • Traders-Talk User
  • 351 posts

Posted 15 July 2009 - 09:10 PM

Scott In your opinion is this a trend change to your 1003 area, or is the jury not quite all in. I would very much appreciate your commentary on the cross over. Jim

#8 Bob-C

Bob-C

    Member

  • Traders-Talk User
  • 5,316 posts

Posted 16 July 2009 - 05:56 AM

Hi mss, thanks for the valuable trading charts. :) Best, Bob-C
Disclaimer: None of my posts are meant to be taken as investment advice or trading advice. Do your own due diligence and consult your financial advisor before making any trades or investments.

#9 mss

mss

    I'M WATCHING

  • TT Sponsor
  • 6,176 posts

Posted 16 July 2009 - 02:11 PM

Scott

In your opinion is this a trend change to your 1003 area, or is the jury not quite all in. I would very much appreciate your commentary on the cross over.

Jim

Sent you a PM.
mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#10 dowdeva

dowdeva

    Member

  • Traders-Talk User
  • 370 posts

Posted 22 July 2009 - 02:06 PM

Great charts and great work, as usual, mss. Thanks. What is your view currently on the chart status? A lot of people saying down imminent, but I am still seeing the possibility for more upside (1000-1005) in my work. Deva