Disclaimer: One does not challenge traditional TA, as Matt &
Steve do so well.
I was recently wondering if anyone has any news or experience
with applying
DeMark trend analysis to
gold price charts, please?
And the next obvious question is whether there are any resources
for this, say an excel spreadsheet, software, etcetera that may
simplify the task, also please?
The actual DeMark service is quite expensive (typically used by
hedge funds and large money traders with more money than Matt even
:P) yet the theory is not, as TD has published some well regarded
books on this subject of his creation.
Private messages welcome and any post worthy to help everyone
benefit can be made here in reply on the blog.
Reason for asking:
In all honesty, my first guess is that someone has already tried
this and decided with bitter experience that DeMark does not work
or is too difficult for gold. One should do a search & query
before starting any project, so as to avoid wasteful duplication of
past efforts. Otherwise, how to account for the fact that no one
uses (SFAIK) DeMark for gold?
Possible benefits:
On the other hand, if this proves useful and manageable; it would
be something to share with the Trading Community on the blog as an
occasional post. No promises, but let's begin by asking the
community for feedback.
Interesting that you should bring this up - I have just returned
from the IFTA conference in San Francisco and I listened to Rick
Bensignor from Wells Fargo talking about his use of Demark
indicators along with Ichimoku clouds. He applied his analysis to
gold and the S&P 500. He didn't go into too much detail but the
conclusion was the gold is most likely heading down to the $1100
area in the near term and the S&P 500 is in a longer term bull
market with more highs to be seen.
yep doesn't really matter about the market - if SPX cash goes to
2000, my long term system will stay in it, if it doesn't and rolls
over next year, will catch it
His last two big public calls on the S&P have been wrong in
a big way. I seem to recall one on Apple, too. I watched DeMark
signals for over a year from someone who used the service from
Bloomberg & wouldn't put great stock in it. I would put it
about even with trying to trade off Elliott Wave signals.
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2-part question: DeMark for gold? Can one do manually?
Posted by cubby on 20th of Oct 2013 at 06:27 am
Disclaimer: One does not challenge traditional TA, as Matt & Steve do so well.
I was recently wondering if anyone has any news or experience with applying DeMark trend analysis to gold price charts, please?
And the next obvious question is whether there are any resources for this, say an excel spreadsheet, software, etcetera that may simplify the task, also please?
The actual DeMark service is quite expensive (typically used by hedge funds and large money traders with more money than Matt even :P) yet the theory is not, as TD has published some well regarded books on this subject of his creation.
Private messages welcome and any post worthy to help everyone benefit can be made here in reply on the blog.
Reason for asking: In all honesty, my first guess is that someone has already tried this and decided with bitter experience that DeMark does not work or is too difficult for gold. One should do a search & query before starting any project, so as to avoid wasteful duplication of past efforts. Otherwise, how to account for the fact that no one uses (SFAIK) DeMark for gold?
Possible benefits: On the other hand, if this proves useful and manageable; it would be something to share with the Trading Community on the blog as an occasional post. No promises, but let's begin by asking the community for feedback.
Thanks guys & gals!
Demark
Posted by payday on 20th of Oct 2013 at 05:29 pm
Interesting that you should bring this up - I have just returned from the IFTA conference in San Francisco and I listened to Rick Bensignor from Wells Fargo talking about his use of Demark indicators along with Ichimoku clouds. He applied his analysis to gold and the S&P 500. He didn't go into too much detail but the conclusion was the gold is most likely heading down to the $1100 area in the near term and the S&P 500 is in a longer term bull market with more highs to be seen.
An Important observation regrading the Tutorial trading method
Posted by matt on 21st of Oct 2013 at 12:57 am
yep doesn't really matter about the market - if SPX cash goes to 2000, my long term system will stay in it, if it doesn't and rolls over next year, will catch it
Lately, DeMark has been a contra-indicator
Posted by a_l_ on 21st of Oct 2013 at 12:57 am
His last two big public calls on the S&P have been wrong in a big way. I seem to recall one on Apple, too. I watched DeMark signals for over a year from someone who used the service from Bloomberg & wouldn't put great stock in it. I would put it about even with trying to trade off Elliott Wave signals.