Market Snapshot: Market Outlook RUT for Sep 17th '07

Sunday, September 16, 2007

Market Outlook RUT for Sep 17th '07

Note:

The AdStoK_MTF indicator is now substituted for AdLag64StoK_MTF which is smoother, but very slightly back-adjusting. Only the last pattern over the last 64 bars is displayed.

Dominant TF: 60mins
Swings: UP-DN-DN
Market direction: Neutral to Down.

60mins:
The recovery stopped close to Fib PR2 (61.8%) at 787 and settled just above MM pivot at 781, after hovering within a fairly tight range for a few days. AdStoK is neutral to bullish, but Entropy has now turned about negative.
What next now??? After the Fed announcement on Monday, it can certainly go both ways, but there is still a positive to neutral bias ahead of the news.

Daily:
Very slightly upward bias given by AdStoK, but Entropy is down and negative. The market is driven by levels right now, and thus will probably move to the next fractal level upon the Fed announcement.
Possible range: 765 to 800, then 812.5 on the up side, 750 on the down side. 750 and 812 are KEY LEVELS in both directions.

Weekly:
Ahead of the Fed on Monday, there is some minor downward bias, but it could just as well be a return to the bullish trend after a bounce on the 750 support level.

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

RSS Feed: http://feeds.feedburner.com/blogspot/CImq

Market Snapshot

Sunday, September 16, 2007

Market Outlook RUT for Sep 17th '07

Limpopo-Lipadi

Welcome !

Learning the technique with a few commented charts

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