yes great newsletter. There is as part of the scan facility in stockcharts, a candlestick section with Ev Star and Mrng Star as 2 of the recognised patterns. They have a c75% success rate I read somewhere and their frequency is quite low (there are not many appearing in the stockcharts pre defined scans at the mo)

still short on the SPYs but curling up. On the @ES.D contract, its actually long on my settings

it looks extremely overbought on the daily chart. I shorted a couple of $ below here so not the best of trades so far but am averaging down as its overbought, with divergence and I think it gives back some here.

We shall see

The Inverse H&S measures to at least 1325 if it plays out. Am I interpreting this right? Its a "difficult head" to interpret given the spike down in forming the head

absolutely nothing wrong with taking a profit. How many traders out there would have seen strong gains in the likes of DNN virtually disappear as it fell from 4.50 highs to 2.10 lows in a matter of 4-5 weeks. Better not to marry a position

If that H&S plays out then thats one heck of a LT downside Target for the $. Don't see much wrong with your synopsis based on the chart

One day doesn't make a trend but its encouraging Dollar wise to see the Index holding up today despite S&P futures being up 17pts or so

Probably need a bigger sample size. To be honest , its the unpredictable and outside of this, the trend is down per the charts. Until that changes, position shorts are the order of the day

I don't like too much about the BSE at the moment. Its trending down in a channel, MACD is rolling over, RSI looks weak and overall, I think this market has a fair way to go down

I am short and staying short on this one

I ain't that much into the fundamentals but as a sidekick, i read that Indias current GDP is 8% but inflation is 9%. Thats not a healthy backdrop on which to grow domestic profits. But as I say, its not the premise at all for shorting. The technicals are the focus

Hoping we do get some follow through to the 1295ish mark early next week. Nervous holding longs over the weekend but my system says stay long so I stay long. Not easy given all thats going on at the mo

Hi Kobie. You seem to be using a good methodology. Why don't you consider coding it for Tradestation or IB ? Or is there subjectivity involved which aleviates the possibility to code?

60min chart bull flagging aswell......I think

The only news event I can see is that Bostons Angel won the 3m chase at Cheltenham at a price of 16-1. My horse came in second. Shame!

Market wise, I do think we rally. This is a flush out process making everyone think the world is caving in and then pop we go up. I anticipate a rally in the coming days to recover some lost ground

We shall see!!

Matt

I did some analysis going back quite a while ago (2 years ago!) that the mechanical systems perform only when VIX is >25. I had an auto switch off in my coding when VIX reached 25 so for quite a while now, I haven't ran any of them. Infact I need to make sure i haven't lost them in TS with the # of times the platform crashes on me!! Will recode if needed. Won't take long

To cut a long story short, you might want to consider revisiting these now that VIX is approaching 25. I would probably re-optimise given the gap since they were last traded but at some stage soon, if Volatility continues to rise, these systems should be back in play

yep for sure. Buy support sell resistance. I have been buying $ here looking for a bounce at the very least. Possible higher low on the dollar index and a 123 pattern setting up which is simply a move up followed by higher low on the move down and then a move up again above the point 1. Forgetting all the numbers, it looks a good low risk entry as you say!!

Also I have been buying into the S&P yesterday as I think we are due a good bounce in the coming days. Bit scary going long but its usually the best time to buy the markets........when everyone else is selling.

The MACD & Stochastics for Silver have only just started to really roll over now. If this plays out, then there may well be considerable downside for the metal. Down to $30 should be a given from the current levels

I felt a bit of a wolly selling DNN at 3.30 in early Feb and LNG at 6.50 only to see them go higher towards 4.50 and 10 respectively

LNG is above my exit price still but i guess with todays move in DNN therein lies a message to take profits when they are there. You never know what impact news events such as in Japan or with LNG its litigation issues (I think) has on a share price

Take profits and move on I guess is the moral!!!

...It looks oversold on the 30 & 60 min and may well bounce from the 23 level so i am going to wait before shorting

Now that i have said this, it will be 22 by today!!

sounds good to me. Its just popped down a quick 60cents. What i personally find is that the instruments that have frothed up the most are the ones that take the deepest falls on any meaningful pullback. So the likes of silver are ripe for a healthy move down towards the lower 30s

apart from the study, I have been shorting Silver and Gold heavily and its simply because 1) They are overbought technically and some neg div is creeping in, 2) Dollar strengthening and 3) Geo political factors overdone

Of course, if we get a major equities sell off, we will see liquidation in all instruments . Its just the way its happened before and it will happen again