Trading ES (Q1 2004)

hillbillie

Junior member
29 0
lph

Major Averages—Primary & Secondary Parameters
Dow Jones Industrial Average Primary Support = 10,367.41 intra-day low (1/13/04)
Secondary Support = 10,094.75 intra-week low (12/17/03)
Primary Resistance = 10,673.10 intra-day high (3/19/02)
Secondary Resistance = 11,350.05 intra-day high (5/22/01)

Standard & Poor's 500 Primary Support = 1,115.19 intra-day low (1/13/04)
Secondary Support = 1,071.14 intra-day low (12/17/03)
Primary Resistance = 1,173.94 intra-day low (3/19/02)
Secondary Resistance = 1,315.93 intra-day low (5/22/01)

NASDAQ Composite
Primary Support = 2,077.09 intra-day low (1/09/04)
Secondary Support = 1,880.31 intra-day low (11/19/03)
Primary Resistance = 2,328.05 intra-day low (5/22/01)
Secondary Resistance = 2,892.36 intra-day high (1/22/01)

Russell 2000 Primary Support = 573.74 intra-day peak (1/09/04)
Secondary Support = 556.91 intra-day peak (12/31/03)
Primary Resistance = 614.16 intra-day high (3/06/00)
Secondary Resistance = 635.19 intra-week high (measured move)


See if I can dig out some fibs, seem to remember 1115 and 1108 a coupla weeks back
 

hillbillie

Junior member
29 0
How about Andrews fork

Don39_15.png
 

china white

Established member
979 12
HB - u may scare some ppl posting charts of that sort :) I myself thot at 1st glance it was some sort of swastika :) sorry mate just joking no pun intended :)

on a serious note - I do agree with Bonsai that pitchfork analysis works on larger time scales, and is quite tricky to apply intraday. just my opinion. HB pls keep on posting (may be slightly reducing the size of the charts :) ) - lets c if it can be applied to shorter time scales. I doubt it, but I may well be wrong.
 

hillbillie

Junior member
29 0
Charts

Sorry about size ,I tend to post what I see, interesting to note that the fork coincided (with the second intersection) today and is now on the pivot .See if I can dig out a few more its an interesting site.
 

china white

Established member
979 12
dippies

dont want to jump the gun here - but it increasingly looks to me that last Thursday's 1121 is the closest dippies wud let spooz to get to that 1107-15 "rational" retracement level I was talking about.

which wud mean 1164 next week - Fib and where upper bound of the pitchfork is gonna find itself.
 

Attachments

  • s&p5 minute.jpg
    s&p5 minute.jpg
    53.2 KB · Views: 486

hampy

Well-known member
276 5
China, Are you still trading using your Tick divs system or have you moved on to something else?
hampy
 

china white

Established member
979 12
no-trend days - tick divs

trend days - 40ema/5 min on naz

aberration days - tick div to spot the reversal, 40 ema/5min naz S/R (or R/S) resolution as confirmation of the reversal

nothing changed Hampy. still trading the same very system. had 1 losing trade in 2004 so far :)
 

hillbillie

Junior member
29 0
Interesting day today seen yesterday

Here's the CISCO KID!

Discovery64.png


Sorry about the size but here's the kids fork:
Andrews_ES.png


Of Divergence and Cisco, is this a three push down(although not 100% classic)?
N60.png
 

china white

Established member
979 12
HB - good charts

I personally dont trade individual issues' news - but the way I c it - Cisco's earnings (which relates to the past) lower than expected BUT their sales (which is FUTURE earnings really) spiked. I am not gonna be surprised at all if the dippies close CSCO.O UP ON THE DAY by the close :)
 

hampy

Well-known member
276 5
Thx China, New PC gets delivered on Friday - Can't wait!
We seem to be seeing more aberration days.
IMO this must be the big boys slowly getting out of the NAZ leaving the public to buy at the top whilst switching themselves into the apparently safer DJI. What do you reckon?
hampy
 

china white

Established member
979 12
hampy u may be right

I am leaning towars thinking that aberration days r part of parabolic runs where any sort of strength (in what usually is laggards) is viewed as a reason to reverse early weakness in techs and essentially just finish the day lifting all the offers. As such they r probably extra bullish days short-term.

However medium term any parabolic run needs to retrace, and the higher is the cliff the more painful is the fall-off :) so .... but i fully agree too many aberration days as what we saw lately is a sign of "abnormality" (if its a valid word) in the mrkt.

good lk with yr PCs! :)
 

china white

Established member
979 12
trend day rules!

perfect so far - trend up internals, secondary crosses outperforming AND u r given a test of Naz 40 ema/5min early in the day - u CANT wish for more :cheesy:

buy naz 40 ema on a trend up day. even with an entry as sh***y as mine 28 - its 11 pts so far.
 

Attachments

  • nasdaq combined composite indx- 5 minute (all sessions).jpg
    nasdaq combined composite indx- 5 minute (all sessions).jpg
    62.7 KB · Views: 536

hampy

Well-known member
276 5
China, Delighted to say I'm posting this on the laptop wirelessly connected to the web. New PC superb! Just need to learn how to trade now!
Anyway question for you - How did you decide so early that this was a trend day. All I saw was a gap up open, then 1 white candle followed by 4 red ones. This was of course the retrace to the 40 ema on the Naz but unless you had decided to go long immediately you missed most of the move.
Thx for your help,
hampy
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock