erierambler

sanchez, here is a graph for data from June 1st to Aug 20th. Notice when bars are in harmony and when they are not. erie

here is a picture of price this morn erie

Those are potential targets for a short if I get one erie

here's my levels for tomorrow but i have one more level from the day before at a lower price. Took your chart and annotated:) hope you don't mind . erie P.S Interested in seeing your levels

Just click on link that says chat on top of page and it opens in another window. You can familiar yourself with it now. Type in message at bottom of the new page and hit arrow . It is not specific to this thread. erie

Would you be interested in meeting in chat tomorrow morning? Just click on chat at the top of the page on Traders Laboratory. erie

I think MMS was referring to emg's post as emg has been in the chat, but not the last 2 days erie

past the 1090 for confirmation and a 90% up day for a bonus erie

that says a lot for your integrity, you've shown yourself to me and now others as well.

if you can't answer the question directly Tams as the chart posted, then please remove your 2 posts from this thread as they are unwelcome erie

Somehow I didn't think you would answer my question regarding the chart I posted erie

Tams, I'm confused, what does volume confirm here in the chart? I'm already in the trade long and when price rises above 1090, I believe it will confirm my long trade. thanks, erie

need a move above 1090 to confirm erie

here is the divergence, less lows on SPX, volume divergence and ROC. Let's see what tomorrow brings

On another note May 6th and today ( May20th ) have both been 90% down days. Support may be near All we may need is a little divergence erie

Here is my chart: Using time we may be in for a change in May? erie

like to revive this thread, with regards to S&P . Chart of price action. erie

I've been reading the post in this thread, and I really have some learning to do. Hope you will bear my basic questions. On the types of charts to use he mentions - Composite averages, Group, Individual stocks, and the wave chart. Here is what I believe he means. Composite Averages - This would be the S&P500 or 100, the Dow, and Nasdaq. Yes and Industrials, Utilities, and Transports as well as the nine sectors...XLF, XLE , etc. Group Charts - What I'm useing for this at the moment are Trasnportation Services (Third party logistic and trucking) and Building Material. So I have about 12 Transportation charts, and 5 on Building material. This would be the Group of stocks he speaks of? Yes you can to Big charts and see many groups there. Group Averages - Don't know what this means exactly. Can't seem to find averages on one particular group. Again Bigcharts Individual charts - I'll assume this would have to be one stock in the group you are planning to trade in, Yes Wave Chart - No at all sure what this is. Take the leaders, such as IBM and HPQ, etc and use a software to join them together with volume to make your wave chart. But everyone that reads the book will have their own interpretation, have fun....... erie

Db sums up most of what you need to study, for if you are interested in price action then the best way is to study the action itself as it unfolds and record what you see and think. Once one understands highs , lows, trading ranges, first class divergences, swings, he/she can begin to develop a trading plan. If there was one author I would rec , it would be Justin Mamis, he has a trilogy. There are gems in there and then there is stuff that no longer applies to give one an edge. Db also recommends that one look at the sectors(XLF,XLE,etc) Indu, Trans, and Util. That is unless he has changed erie ( always looking for something new to learn )

Ghost, I get my data from stockcharts.com . Watch the issues as well as the volume ma's. erie

ditto to what brownsfan said, I've been to the Las Vegas expo and one in Chicago. If one is interested in software it is the place to see and try them out as well. erie

Yes , I find that interesting . erie

the correlation I am referring to is the US indexes thanks for replying brownsfan, now I understand. erie

Hi Brownsfan Just a question about correlation. Isn't Gold correlated to the $USD : Also oil has physical value related to supply/ demand pressures. I see sales figures and inventories , but I do not see this with Gold , albeit they both are commodities. erie

Yes , the forward test proves the results and it is not easy to follow, but I disagree again with the notion " can be made to appear profitable". That is not what I do. I put in not only time but effort and it costs money as well. Because the data does not work on a daily timeframe doesn't mean the idea / strategy is not profitable. One has to find what is . One has to look. One does not make it profitable, one just has to test it. Otherwise how the hell would one know whether they are on the right track or not. I"ll leave you's alone now.......... good trading to you's erie