Here's a 30 min chart of the SPX. The market is holding up
nicely. I see no negative divergence on the 15 min, 30 min,
or 60 min charts, therefore I think the market could work its way
higher over time i.e. to the 50% Fib at 874 and the 61.8% fib at
890. We could flag out here for a time first. The 890 - 900
area would be a good target because that fits with the measurement
of the IH&S pattern.
Also on the 30 min chart, see how well the 13EMA and 55EMA
crossover has been working. Generated a buy on the 29th of
Dec, a Short on Jan 7th, and a buy yesterday.
Also remember today we have an FOMC statement meeting
Posted by junkmaylbox on 28th of Jan 2009 at 09:55 pm
Matt, I've checked the 13 and 55 EMA system on the 30-minute
chart of SPX, and it looks like it would produce one or zero trades
a day on average. It worked well during the last 4 trading days,
which were characterised by a lot of whipsaw signals. I wonder if
the system can be fitted specifically for SRS (and SKF) by tuning
in the period parameters.
I would like to use this system, as my current work load at
works seems to leave me with less opportunity for day trading.
Thanks for your idea and comments on this subject.
Posted by rgoodwin on 28th of Jan 2009 at 01:16 pm
Matt, I looked at a 30 min spx and the 13/55 EMA did not cross
on these dates. Any idea what I am doing wrong? Just wanted to look
at the long term behavior of this cross level. Thanks....
SPX 30 min chart.png Here's a
Posted by matt on 28th of Jan 2009 at 12:26 pm
Here's a 30 min chart of the SPX. The market is holding up nicely. I see no negative divergence on the 15 min, 30 min, or 60 min charts, therefore I think the market could work its way higher over time i.e. to the 50% Fib at 874 and the 61.8% fib at 890. We could flag out here for a time first. The 890 - 900 area would be a good target because that fits with the measurement of the IH&S pattern.
Also on the 30 min chart, see how well the 13EMA and 55EMA crossover has been working. Generated a buy on the 29th of Dec, a Short on Jan 7th, and a buy yesterday.
Also remember today we have an FOMC statement meeting
SPX 30 min dynamic chart
Mechanical systems on 30-minute charts for SRS and SKF
Posted by junkmaylbox on 28th of Jan 2009 at 09:55 pm
Matt, I've checked the 13 and 55 EMA system on the 30-minute chart of SPX, and it looks like it would produce one or zero trades a day on average. It worked well during the last 4 trading days, which were characterised by a lot of whipsaw signals. I wonder if the system can be fitted specifically for SRS (and SKF) by tuning in the period parameters.
I would like to use this system, as my current work load at works seems to leave me with less opportunity for day trading. Thanks for your idea and comments on this subject.
SPX 13/55
Posted by rgoodwin on 28th of Jan 2009 at 01:16 pm
Matt, I looked at a 30 min spx and the 13/55 EMA did not cross on these dates. Any idea what I am doing wrong? Just wanted to look at the long term behavior of this cross level. Thanks....
My preference is 13/34 EMA
Posted by markwes1 on 28th of Jan 2009 at 01:33 pm
My preference is 13/34 EMA - but then again nothing is perfect.
I am with you Robin. I
Posted by jlink on 28th of Jan 2009 at 01:25 pm
I am with you Robin. I have 12/30, 1/7 and 1/23.
Matt, So far your HS pattern
Posted by cspirit on 28th of Jan 2009 at 12:35 pm
Matt,
So far your HS pattern from last nights video is playing out. Need a close about SPX 859 like you said in last nights update.