Market Snapshot: Market Outlook RUT for Sep 21th '07

Friday, September 21, 2007

Market Outlook RUT for Sep 21th '07

Dominant TF: 60mins
Swings: UP-UP-DN
Market direction: neutral to mildly UP.

60mins: neutral to mildly DN, til support is found.
The major 812.50 resistance level has held despite the strong open on Sep 19th.
AdStoK and Entropy show signs of a weakening and a support must be found now (Swing is UP). One can be tempted to think 805 was the support yesterday, but AdStoK has a negative gradient, and one cannot discard 797 - 799 to be a stronger support.

Daily: neutral to mildly UP.
AdStoK is somewhat bullish but the line separation may indicate some increased volatility at these new levels.
RUT may well reach 827 after some support is found. Should we see some profit taking, RUT will find support around 800.

Weekly: neutral to mildly UP
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
Entropy might bottom up this week, so RUT could creep slowly to 843 over the next few weeks. At the same time, RUT may just as well follow another leading index like SPX.

Welcome !

And enjoy your visit to this little "Market Snapshot" blog.

The market report blog has now moved to ForeTrade while this one will (time permitting) focus on actual chart commentaries on TF and ES eminis, as well as EURUSD to show how accurate and yet simple our proprietary method is. The reason for this change is that the Toolset itself is no longer for sale itself, simply because the sales effort and training/support activities were too time consuming. I now provide market analysis exclusively to fund managers until the technology is finally sold to a fund or financial institution. The blogs and Twitter will then be closed or turned private. Anyway, enjoy while it's there...

A closer look:
Behind these market snapshots lies an advanced TradeStation toolset including a set of C++ DLLs and API to access various advanced realtime calculations stored in the DLL to be used either within TS or with custom VC++ programs. While seemingly a little complex at first, the technique is actually relatively easy to grasp. In fact, since most humans can only memorize 3 to 5 (sometimes up to 7) pieces of information at any one time, and the technique being discretionary, it was essential to keep it as simple as possible.

What are those snapshots made of ?
In a nutshell, all reports are based on a minimum of 1 symbol in 3 Time Frames: 60mins, daily and weekly, themselves using more or less the same indicator set: self-adaptive swing indicator, MTFS (formerly AdStoK) and self-adaptive Entropy and a few visual aids (swing direction, support/resistance levels and paintbars). "Self-adaptive" is the key word here. There is virtually no parameter to tune, and it can be used as is, for virtually any market symbol. Each chart provides a visibility 3 to 5 bars ahead, so actual trading should obviously be complemented by a sound money management technique.

A common question : Why isn't there a user documentation then? Hmmm... Who ever reads manuals...? Well, I might provide one eventually but at the same time I might not... The reason is that it is more important to absorb the method over a period of time and make it one's own, i.e. then adapt it to one's own trading profile.
For the keen developer, a detailed API documentation for this set of advanced TradeStation Analysis Techniques will be released shortly.
For the time being a separate technical blog has been launched for those of you interested in learning a little more about what's under the bonnet.
For more info: voisin DOT bruno AT gmail DOT com

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Market Snapshot

Friday, September 21, 2007

Market Outlook RUT for Sep 21th '07

Limpopo-Lipadi

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Learning the technique with a few commented charts

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