Market Snapshot: Market update

Thursday, February 26, 2009

Market update - Feb 26th '09

Sorry for yesterday... A LOT of work unfortunately distracted me from my daily report.
Despite the fact we are on key levels, nothing major happened yesterday, so let's review the day ahead now.

ER:
Trading range below key 406 level ahead of anticipated target as mentioned on previous report. While selling pressure could abate slightly with a likely slowdown near stall level (~390), we are still aiming at that target range made of stall level, Fib expansion target (384) and strong MM support (375). Indicators show some potential bounce to the high 410s before we get there even if such inflexion is not visible yet.

ES:
As discussed in previous reports, ES is slightly ahead of ES as it already is on its 750 target. The pattern is however similar and the bounce is already visible. While leading a bit, the outlook remains the same: no recovery right now and ES test lows again. On the longer term, we can still believe in a double bottom scenario but we certainly have to see selling pressure dissipate.

Note on EURUSD: 1.27 is KEY level (still short...)

( posted 6:20 AM UK )

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, February 26, 2009

Market update - Feb 26th '09

Limpopo-Lipadi

Welcome !

Learning the technique with a few commented charts

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