Apparently - this is used "some" by day traders to sus out the
market direction... vs use of the indices.. Its quite
easy to watch in a 5 min window using Stockcharts intra-day
charts. Anything to divert us from trading.... pki
I watch a 5 min chart through Interactive Brokers. I'm still
trying to make use of it but the impression I have from reading is
that the trend intraday is more important than the actual number
although that will tell us how the mkt has been doing so far. At
currently 1.19 and consolidating after a rise it seems to confirm
the negative day -- at least that's my novice take. Any comments
from folks that use this?
bk, kreem - yes agree - it is the trend and inflections that are
seemingly providing guidance - but also - the 3 min SP500 chart
matt keeps up - is what I use all day long. Just trying out
this new little guide as I saw some "professional" day traders
using it to get guidance in their actions.
simpler version is herewith MA channels set for
15 and 5 min - using a 1 min chart. I drew in the TLs.
best pki
Posted by lindaloo on 11th of Jul 2008 at 12:48 pm
I watch the TRIN like a hawk, though not on a chart. Every day
for the past couple of weeks it has been well over 1.00 which
is bearish, but even when the market is up, the advance-declines
have been negative and the TRIN has been over 1.00. This
morning when we had the rally, the TRIN went from .80 to over 1.00
while we were rallying.
That's my impression too - it sums the breadth for the day at
any one time, so the number will not tell all as the day goes on,
but a reversal will mean something.
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Market breadth negative GAT- $TRIN
Posted by pki on 11th of Jul 2008 at 11:27 am
[Gospel According To-GAT] $TRIN
Apparently - this is used "some" by day traders to sus out the market direction... vs use of the indices.. Its quite easy to watch in a 5 min window using Stockcharts intra-day charts. Anything to divert us from trading.... pki
TRIN
Posted by bkout3 on 11th of Jul 2008 at 12:08 pm
pk
I watch a 5 min chart through Interactive Brokers. I'm still trying to make use of it but the impression I have from reading is that the trend intraday is more important than the actual number although that will tell us how the mkt has been doing so far. At currently 1.19 and consolidating after a rise it seems to confirm the negative day -- at least that's my novice take. Any comments from folks that use this?
$TRIN - breadth tool - also we use Matt's 3 min S&P chart.
Posted by pki on 11th of Jul 2008 at 12:49 pm
bk, kreem - yes agree - it is the trend and inflections that are seemingly providing guidance - but also - the 3 min SP500 chart matt keeps up - is what I use all day long. Just trying out this new little guide as I saw some "professional" day traders using it to get guidance in their actions. simpler version is herewith MA channels set for 15 and 5 min - using a 1 min chart. I drew in the TLs. best pki
TRIN
Posted by lindaloo on 11th of Jul 2008 at 12:48 pm
I watch the TRIN like a hawk, though not on a chart. Every day for the past couple of weeks it has been well over 1.00 which is bearish, but even when the market is up, the advance-declines have been negative and the TRIN has been over 1.00. This morning when we had the rally, the TRIN went from .80 to over 1.00 while we were rallying.
That's my impression too -
Posted by kreem on 11th of Jul 2008 at 12:16 pm
That's my impression too - it sums the breadth for the day at any one time, so the number will not tell all as the day goes on, but a reversal will mean something.