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Would you mind posting these in the Trading The Wyckoff Way thread as well? A simple copy-and-paste will do (if I do it, my name will be on it). I have some comments to make about S/R, but I'd rather make them there, given the floundering I see with regard to several other approaches, and the possibility that the simplicity of this might be more appealing to some than what they're currently bogged down in.

 

Sure, no problem. Done.

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Db, mind posting the stock and sector Wyckoff Wave charts? I was a bit surprised at the outcome today. However, there is quite the divergence in the Up Dn volume. Also today, Up vol backed off, Dn vol increased.

 

GOOG missed earnings, and it's off ~4% from the highs today. Think this might be the needle that pops the Balloon of Hope?

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Db, mind posting the stock and sector Wyckoff Wave charts? I was a bit surprised at the outcome today. However, there is quite the divergence in the Up Dn volume. Also today, Up vol backed off, Dn vol increased.

 

GOOG missed earnings, and it's off ~4% from the highs today. Think this might be the needle that pops the Balloon of Hope?

 

 

attachment.php?attachmentid=12217&stc=1&d=1247793218

 

 

 

attachment.php?attachmentid=12218&stc=1&d=1247793280

 

 

Up vol was weak yesterday as well, as were new highs.

Image2.gif.d94ebd09e1644f24c2d2d3465e82294d.gif

Image2a.gif.ae0bd2329f777f964f24f05daac4720e.gif

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Db, mind posting the stock and sector Wyckoff Wave charts? I was a bit surprised at the outcome today. However, there is quite the divergence in the Up Dn volume. Also today, Up vol backed off, Dn vol increased.

 

If you don't mind me asking, why were you surprised? A test of the June high seemed likely imo, although the pace at which we rallied off 1400 towards 1500 is something I hadn't suspected during summer "doldrums". The information about volume spread is interesting though.

 

In a review of last 2 weeks, here's my 2c. We spent a week travelling sideways, building up for a sustained rally which has now reached the June highs.

 

Legend on chart

 

- double horizontal lines: rough larger areas of support/resistance from in the past (note this is my interpretation)

 

- small horizontal lines: midpoints or smaller (yet not negligible) areas from intraday S/R

 

- blue box -> 'rectangle'/base/build-up (see also what dbphoenix mentioned about accumulation)

 

- red circle -> shake-out

 

- yellow rectangles -> pauses before continuation

nq_rally.thumb.gif.f4e27e02c36ee162ce54b43d2825a80d.gif

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You're correct, I just didn't see it getting that high. A few things I watch on a larger tf are getting quite weak (such as the Up Dn vol div), and the Wyckoff Wave charts have been weaker than the general market. It was more me thinking the bulls didn't have it in them.

 

Today will be fun.

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You're correct, I just didn't see it getting that high. A few things I watch on a larger tf are getting quite weak (such as the Up Dn vol div), and the Wyckoff Wave charts have been weaker than the general market. It was more me thinking the bulls didn't have it in them.

 

Today will be fun.

 

A reminder, tho, that the stock canary is for the Dow. The sector canary is for the S&P. And the Dow and S&P have been weaker than the Nasdaq. My comments in chat regarding the weakness in the Naz had to do with new highs and upvol for the past two days.

 

The canary for the Naz was put together hastily. If someone can provide me with a list of the 30 highest percentage gainers in the Naz or NDX from May 9 to June 10, I can confirm its accuracy.

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Db, perhaps this is what you were looking for. It's the A/D ratio, but at least isn't cumulative. I can do intraday as well if you want, but I thought you'd rather the daily.

 

attachment.php?attachmentid=12254&stc=1&d=1247860058

qc.png.60ec4669a34987ef346e5d250870f251.png

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I don't think so. The AD is the difference, not a ratio. For example, if 150 stocks advance and 100 decline, the difference is 50. The ratio would be 1.5:1.

 

But I didn't intend for anyone actually to do it. I thought there might be some site that does it already. It's a PITA to maintain, which is why I stopped doing it.

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If somebody uses IQ Feed, then it is easy to plot A-D difference. For NQ just substract IIQD.Z from IIQA.Z and you have it (for Nasdaq composite). Here plotted as overlay (red) in a today NQ 1 min chart.

attachment.php?attachmentid=12258&stc=1&d=1247864989

AD.thumb.png.d063da929aaf08a117141a69ebd7a3a7.png

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What would it look like on a daily chart for the past six weeks?

 

Incidentally, upvol and new highs for the Naz are still crap.

 

attachment.php?attachmentid=12261&stc=1&d=1247866865

 

NQ is blue-grey bars. A-D is candles with white knots.

ADdaily.thumb.png.16e35fdf69d7c5538939b1f4aec20c8b.png

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For some reason, this isn't working. The number for each day should be a point, not a bar. For instance, the difference between advancers and decliners for day one is "253". For day two, it's "312". For day three, it's "284" (or whatever). Then these points are connected with a line, like connect-the-dots.

 

But, again, the highs-lows and upv-dnv info should be plenty. The AD Line is just something else to look at and possibly confirm what these are saying.

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Good one. The replies are even better.

 

Too many people say they don’t use indicators, when almost all of them use bars, channels, trendlines, fibs, pivots, etc.
His style of trading also seems very busy. I’m not convinced that trading should require the reflexes of a pro video game player.

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For some reason, this isn't working. The number for each day should be a point, not a bar. For instance, the difference between advancers and decliners for day one is "253". For day two, it's "312". For day three, it's "284" (or whatever). Then these points are connected with a line, like connect-the-dots.

Ok, I see what you mean. As you could see on the 1 min chart I posted before, the symbols provided by IQ Feed update (almost) continuously during the day. I believe they show the actual number of advancers and decliners and the daily candle represents their difference as it developes since open till close. So if you are interested in a final result for the day, just look at Close of the appropriate candle.

 

Here is your "connect the dots":

attachment.php?attachmentid=12271&stc=1&d=1247923378

ADdaily2.thumb.png.203511497f3cfe32fbe69c1a1c3c619d.png

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Here is your "connect the dots":

 

Thank you. This makes more sense. And it does confirm what we've been seeing at least the past two days with regard to non-confirmations in new highs and upvol.

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Good one. The replies are even better.

 

Yes, I liked "His style of trading also seems very busy", as compared I suppose to, say, logging on every couple of hours or so to see how one's "daytrade" is going :)

 

Then there was the one about "semantics". He never did understand what the others (or I) were talking about.

 

But my point was made, at least to a few people. Perhaps at some point in the future I will have saved them from the clutches of nonsense.

 

Amen.

 

(But I do find being quoted like this sort of creepy)

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They quotes Thales too, on a random post about his daughter.

 

Is it bad that when I saw the link "The Quotable DbPhoenix", I was hoping it was one of your old indicator posts from ET? :rofl:

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Another measure of breadth I watch is the Bullish Percent Index, which is simply the percent of stocks in a index or sector that are on PnF buy signals. Something to note: the way this is calculated, a stock is always in a Buy or Sell signal. This neglects times that a stock is congesting, or makes a quick reversal. The signals also lag, as it takes a couple waves to make a buy or sell signal. However, I've found that it is a great measure of market breadth and participation.

 

StockCharts does an excellent job of calculating EOD values for this index for all major US indexes and sectors.

 

Here is NDX and SPX, showing some divergences and notable weakness (however, as expected, NDX is quite stronger in general).

 

attachment.php?attachmentid=12298&stc=1&d=1248024899

attachment.php?attachmentid=12299&stc=1&d=1248024899

5aa70f02468d0_bpndx.png.95b1d0f10191a891c7566b5c2323dfdc.png

5aa70f0249b2a_bpspx.png.a32152896f2d1dc979a98bf213efe88e.png

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