Posted by timebandit on 8th of Aug 2022 at 08:47 pm
I added a correlation indicator to this $NYMO chart a few months
ago, and since then this is the first time I have seen it become
this uncorrelated with $SPX. You can see that two of the three
prior occurrences (vertical cyan lines) signaled sustained
selloffs. The third time there was a one-day pullback.
I thought you were suggesting that since the third time selloff
was so nominal that the indicator might not be valid this time for
another meaningful sell off
Posted by timebandit on 9th of Aug 2022 at 08:19 am
Oh, gotcha. Sorry, I should be clearer. Let me try it
differently. First off, I haven’t been watching this indicator on
this chart for that long, so it’s harder to draw meaning from it. I
can look back on it through the years, but I’ve found that is less
helpful than when I try to draw insights from it on a daily basis
amidst all the uncertainty of the market backdrop.
That said, the three instances all marked by vertical lines on
this chart coincided with market pullbacks. Two of them were
multiday moves down, one was a day or day and a half pullback. As
an indicator, it would therefore appear to have some significance.
But that is only three data points. I thought it was worth
highlighting but I want to spend more time with it, God willing
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I added a correlation indicator
Posted by timebandit on 8th of Aug 2022 at 08:47 pm
I added a correlation indicator to this $NYMO chart a few months ago, and since then this is the first time I have seen it become this uncorrelated with $SPX. You can see that two of the three prior occurrences (vertical cyan lines) signaled sustained selloffs. The third time there was a one-day pullback.
@timebandit - can you please
Posted by arun on 8th of Aug 2022 at 09:44 pm
@timebandit - can you please post a link to the chart with correlation indicator. I only see a screenshot. Thank you
nice chart, can you post
Posted by matt on 8th of Aug 2022 at 09:29 pm
nice chart, can you post your URL so that I an save into my list of indicators? It's too hard to try and replicate that from my tablet in a hotel room
Matt - check out the
Posted by arun on 8th of Aug 2022 at 09:49 pm
Matt - check out the new generation laptop from Dell. Its so cool. Also surface pro is awesome too if you are on the go
you mean the XPS with
Posted by matt on 8th of Aug 2022 at 11:46 pm
you mean the XPS with infinity display?
Here ya go guys: $NYMO
Posted by timebandit on 8th of Aug 2022 at 09:49 pm
Here ya go guys: $NYMO Chart
schrts.co
$NYMO | SharpCharts | StockCharts.com
Create advanced interactive price charts for $NYMO, with a wide variety of chart types, technical indicators, overlays, and annotation tools.
THX
Posted by arun on 8th of Aug 2022 at 09:53 pm
THX
Have rules changed or just
Posted by watcdy on 8th of Aug 2022 at 09:00 pm
Have rules changed or just been stretched?
Don't understand the question. By
Posted by timebandit on 8th of Aug 2022 at 09:03 pm
Don't understand the question. By the way, that was a nice chart you posted earlier
I thought you were suggesting
Posted by watcdy on 8th of Aug 2022 at 10:32 pm
I thought you were suggesting that since the third time selloff was so nominal that the indicator might not be valid this time for another meaningful sell off
Oh, gotcha. Sorry, I should
Posted by timebandit on 9th of Aug 2022 at 08:19 am
Oh, gotcha. Sorry, I should be clearer. Let me try it differently. First off, I haven’t been watching this indicator on this chart for that long, so it’s harder to draw meaning from it. I can look back on it through the years, but I’ve found that is less helpful than when I try to draw insights from it on a daily basis amidst all the uncertainty of the market backdrop.
That said, the three instances all marked by vertical lines on this chart coincided with market pullbacks. Two of them were multiday moves down, one was a day or day and a half pullback. As an indicator, it would therefore appear to have some significance. But that is only three data points. I thought it was worth highlighting but I want to spend more time with it, God willing