Market Snapshot: 11 Mar 2009

Wednesday, March 11, 2009

Market update - Mar 11th '09

A good day yesterday... the bounce was anticipated in last reports and once 687 was broken on ES, we realized that ES would then evolve in the price segment above. Such price behaviour has also been discussed in previous reports.
ES is now at the top of the new range (high 710s) and while it is likely to peak here (it is also a 50% Fib retracement level), it could reach 735 (Fib PR2) and eventually 750.
That would be the rosy scenario without looking at longer term time frames. The truth is while the daily chart looks better (MTFS crossover + Entropy bottoming), it is likely to be quite bumpy and 687 could (and probably will) be tested again at some point.

The situation on ER is similar. We'll just notice that ER reached Fib PR1 (~370) and 375 is now in sight. It would be safe to trade shorter time frames until recovery is confirmed. Can take a while though...

( posted 4:40 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

Wednesday, March 11, 2009

Market update - Mar 11th '09

Limpopo-Lipadi

Welcome !

Learning the technique with a few commented charts

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