No symmetry break yet vs. last pullback an hour ago on 5 min chart.

e-minis just went long 15 min chart, on penetration of 1/2 of candle. About 2:1 to the 9ema, 4:1 to my standard target of the 20ma.

Great information, thank you. I really want to be settled w/ my final system by paper trading first. I have a couple more questions, so I will pm you.

That's interesting. The system I've been trading is not nearly as extended. to the 9ema is about 1:1, and to the 20ma is about 2:1. 

zenman are you using a 15 min chart? If so, I would think you only get a trade meeting your 3:1 RR setup about 1x a week w/ eminis. Yes? So are you watching a number of instruments to get more trade setups?

Matt, here's a question regarding the new reversion video: how far away from the 5ema is "far enough?" Do you just look at white space, or distance from the close of each green candle? Any kind of objective definition would be most appreciated! (Your new video is a 15 min chart, yes?)

I have a working set of rules for this strategy, and have paper traded 1 contract for 2 weeks. So far, about 8 pts per week w/ e-minis. Taking profits at the 20ma, not the 9ema, however, as most of the time price hits the 20ma. Better profits w/ 20ma so far. Actually, holding until 2 ticks shy of the opposite BB is even more profitable, but not enough data for that trade yet - doesn't hit very often, but big pts when it does.

AMAT not holding the 50ma, went ahead and got out for a loss. Not much holding up this morning!

Bullish over the short term, no? With small caps leading.

USO pulling back the last hour on lighter volume. Volume was really strong on the move up from the open - 4th strongest hour in February.

was stopped out of HAL only to see it bounce over a point from my stop.

See attached. Starting to push up toward that trend line and final 3rd push with, hopefully, negative divergence on the RSI 5.

RTN has lagged the aerospace/defense sector quite a bit (compare to PPA or ITA). It's coiled up, w/ a triangle pattern. Could go either way of course, but since it's lagging perhaps the upside break is more favored.

Yeah, I clicked on the wrong blog entry the first time - sorry zenman, I hit your post by accident!

You know, there are plenty of derogatory slogans one could post about capitalism as well. The root of the problem isn't one structure or another per se, but human nature. I don't really care for one-sided slams like this.

Thanks! It's setting up nicely overall. What would you want to see for a daily candle in order to be able to set a trigger on the following day?

Matt and Steve, here's a chart for you! ETR's daily chart looks like it's setting up for a bounce.

• 4.5% below the 9ema (farthest excursion at least since 2013)
• RSI 5 of 17; RSI 14 of 30
• positive RSI 5 divergence
• more pronounced RSI 5 divergence on 60 min chart
• today closed just 1% above the 200ma
• bollinger band higher relative low - closed inside bands today after 4 consecutive closes outside

my target is the 38.2% retrace from yesterday's high, which is also the low from two days ago.

Took some TSLA for a day trade. Looks like it hit the intraday bottom.

Although SPX holding the 50ma yesterday was certainly positive, I am not particularly bullish. This is in part to an Elliott Wave guy I keep an eye on, whose count still calls for a pullback in the next 2-3 weeks down to the lows of the recent consolidation range. In short, lots of volatility and no CLEAR breakout yet means anything could happen. I say this because I would not want anyone to trade based on my original comment.

I think daily - we printed the left side neckline high a couple days ago or else last week. Time to make the head of the inverse head and shoulders by making new lows. ?

Thanks - it's difficult to remember all the information you guys provide in the newsletters. Thanks for the quick response, I'll also try to refer back to the newsletter as I wonder about such questions.