Live Update

Thursday, August 27, 2009

08/27/2009 After Bell Quick Summary

I don’t see any tricks so I have no idea about tomorrow. Today is another cycle end, see cyan vertical line below, so could be a turning point which means a top of some kind (hey, whose tomato is this? Oh, eggs are welcome just don’t throw directly to me… #$@#*%&*@#$$%).

SPY60min

The longer history about cycles on 60 min chart as below, well, didn’t work 100% but still it worked, right? TA is about finding odds and sticking to it for winning on a longer period of time, blah blah blah…

SPXCycle60min

12 comments:

  1. I still don't understand the how the cycle thing works. can you elaborate more about it?

    ReplyDelete
  2. Chao,

    For example: market up until the cycle end then next cycle could be a down cycle. That's it, very simple.

    How I found the cycle? I use the cycle tool (provided by stockcharts.com) to try different cycle and keep the one that I find mostly worked in the past (e.g. 7 out of 10 times it worked) then this one could be the cycle I need as it's supposed to have 70% winning rate (at least in the past).

    ReplyDelete
  3. I suppose this cycle or seasonality is a pretty weak indicator, right?

    ReplyDelete
  4. Yes, at least I don't trade based merely on cycles.

    ReplyDelete
  5. cobra, great blog

    what do you make of the last 4 candles?

    dojis, shooting stars, hanging man, etc

    indecision or turning point?

    ReplyDelete
  6. Indecision by definition. Just the INDU has been up 8 days in a row with volume decreased day by day on the last 5 days, if the traditional TA I learnt still work, INDU should pullback very soon.

    ReplyDelete
  7. Thanks Cobra. Flowers for you :-)

    ReplyDelete
  8. haha....tomato was from a girl....

    ReplyDelete
  9. Thanks Cobra. Black Underwear for you.

    ReplyDelete
  10. thx,man, we got a long movie, watching and watching

    ReplyDelete
  11. I feel your frustration, what good are technicals if the market ignores them? I went with my favorite technical indicator today and bought some Sep 96 SPY puts, this last move up feels toppy and weak. We shall see.

    ReplyDelete

Disclaimer

The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.