Market Snapshot: Market Outlook RUT for Oct 4th '07

Thursday, October 04, 2007

Market Outlook RUT for Oct 4th '07

Dominant TF: 60mins
Swings: DN-UP-DN
Market direction: mildly UP. New target: 843.

60mins: trading range, support level to be found
AdStoK is still bullish but showing signs of slowing on this 829 level, and Entropy has lost all its steam in about a day and a half. A support level must be found now around yesterday's lows or maybe around 820.
Note that MM levels have aligned to daily ones, i.e. strong MM resistance level at 875. 812.50 is now a strong support level.

Daily: Mildly UP.
AdStoK is still bullish and should carry on its bumpy ride to higher levels now that the key 812.50 level is behind us.
The next levels are 829 (still valid, but minor), 843 (stronger) then 860 and ultimately 875.

Weekly: mildly UP
Entropy and AdStoK now show more clear the way up to 843 over the next few weeks. The Swing indicator should turn around any time now. It has so far been a good representation of the hesitations we've had in lower time frames.

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

Thursday, October 04, 2007

Market Outlook RUT for Oct 4th '07

Limpopo-Lipadi

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Learning the technique with a few commented charts

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