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Market Sense and Sentiment (MKTSS)

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Last Post: 3/27/2020 6:48:36 PM - Followers: 204 - Board type: Premium - Posts Today: 0

This thread is used to give intraday trading signals on the following markets:
1. Dow Jones Industrial Average (INDU)
2. NASDAQ Non-Financial 100 (NDX)
3. S&P 500 (SPX)
We will try to find the medium term direction (1 - 5 days) of each index by locating the important support and resistance, then match them with the chart patterns to find the potential trading range. By merging the behaviour of the corresponding index options and the intraday index trading signals, we hope to find some safe trading opportunities with huge reward in the shortest time frame.

Indexpulse 5 day chart for Short Term trades INDU

Indexpulse 5 day chart for Short Term trades SPX

Usual Trading Signals (with INDU as the reference index)
1. DMI+ cross under ADX = potential HOD, DMI- cross under ADX = potential LOD. The confirmation comes from the gap between DMI+ and DMI- (at least 20), the further apart, the better. This signal is not valid when INDU has about 200 points movement or when you get it before 10:00am. This method works best on the 5 min chart.
Buying Calls at LOD and Support and Puts at HOD and Resistance will likely give us a profit. Remember to use any volatility the first hour of trading to capture good entries and exits.
2. Indices like to Close at or near the High of Day (HOD) or Low of Day (LOD)
3. INDU hits the 320SMA on the 5 min chart.
4. INDU hits the 100SMA on the 15 min chart.
5. INDU hits the Medium Term support and resistance from a longer time frame chart, for instance, the 5 days 15 min chart or 10 days 60 min chart.
6. 15 min MACD signal: fast line cross over or cross under the slow line
7. Maximum-Pain Theory Options Analysis, http://www.iqauto.com/cgi-bin/pain.pl ,works well the week before options expiry.
8. When there is a directional divergence between TRAN and INDU, follow TRAN #msg-1008063
9. Trading Above the SMAs with the SMAs as Support is when you want to be Long or holding Calls. Trading Below the SMAs with the SMAs as Resistance is when you want to be Short or holding Puts. Exit the Calls at HOD and Resistance signals. Exit the Puts at LOD and Support signals. It is not necessary to immediately flip into the opposite trade but Safer to wait until a Market reversal is confirmed.
10.The 5 day 20 and 50SMAs crossing Positive and the markets trading Above them is a Bullish sign, the 5 day 20 and 50SMAs crossing Negative and Below them is a Bearish sign.
11. A Long Calls signal is when the 100/320SMA changes from Resistance to Support and the market is trading Above the SMA and Holding Support. A Short Puts signal is when the 100/320SMA changes from Support to Resistance and the market is trading Below the SMA and Holding Resistance.
12. and many more signals that we discuss on the thread daily.

Trading Tips and Tools:
SPX Current Trading Channels-tks RCKS!
QQQ Current Trading Channels -tks RCKS!
TZA Short reference chart
TNX Bond Yield chart-Inverse to Bonds but in line with Markets
Forex Economic Calendar
Bull Market Cycle/ Fib Fan chart
Read the 24hr Futures Quotes here and Plan your Trade wisely
CME 10-minute GLOBEX Flash Quotes (HTML)
Quote.com Futures list - Click on Indices link
VIX chart
TREND1 RUT Chart-very useful
DAX Chart with trading channels-tks RCKS!
FTSE Chart with channels - tks RCKS!
SPX Swing trade chart MACD/RSI -tks Footquarters!

Larry Williams website - I Really Trade LW University

Commitment of Traders Charts
Useful Futures Link

Options site for OEX, SPX, DIA, DJX, NDX
Seasonality Charts
Seasonality Switching Rules #msg-1381329
Plan Philosophy #msg-471956 #msg-539934
Trade Strategies #msg-538376
Consolidation #msg-544157
Diary of a Loss #msg-545791
Need a Break? #board-30 #board-959

Meanwhile, please feel free to post what you think can be played with these intraday trading signals. This is vital to this thread, please contribute your thoughts. We are all here to learn. I use this thread to document my own observations, and try to draw conclusions from them. You can do the same thing too!

The DJX and NDX options are relatively cheap, and they can obtain nice percentage movement easily. While SPX options are relatively expensive, the volatility can lead to huge percentage movement, hence higher risk and reward. For simplicity, we also assume that you are not allowed to short options, though that will be changed when we gain more experience.

"The Markets offer support and resistance. This Board offers support and assistance"
"If you can Successfully Follow the Plan then Success will Follow You!"

#18894   Hi Bob RCKS 03/27/20 06:48:35 PM
#18893   Changing the Statistics? bbgold 10/05/12 09:30:25 AM
#18892   The APPL/GOOG Bubble? bbgold 09/21/12 10:56:55 AM
#18891   Selloff could start Now? bbgold 09/19/12 12:22:51 PM
#18890   No I don't see labor costs going up Toofuzzy 09/06/12 07:13:46 PM
#18889   If Ponzi had a Fed bbgold 09/06/12 11:31:35 AM
#18888   Not true bbgold 09/06/12 11:11:51 AM
#18887   >>>>So this continual devaluing of the $ is Toofuzzy 09/04/12 03:22:32 PM
#18886   Bernanke says What? bbgold 08/31/12 02:49:05 PM
#18885   Another Potential Bearish Rollover bbgold 08/10/12 09:44:17 AM
#18884   Unemployment/Payroll numbers, we know bbgold 08/02/12 10:33:39 AM
#18883   Indexpulse potential Bearish Rollover bbgold 08/01/12 04:01:40 PM
#18882   Hi Bob RCKS 06/01/12 10:26:49 PM
#18881   Thanks Steve, looks good bbgold 06/01/12 05:31:45 PM
#18880   I don't think there is any question the RCKS 06/01/12 09:44:33 AM
#18879   Eurozone Unemployment rises to 11% bbgold 06/01/12 09:11:18 AM
#18878   you as well Bob RCKS 05/25/12 02:47:45 PM
#18877   Thanks Steve, looks good bbgold 05/25/12 02:25:14 PM
#18876   Here is pretzel's chart for today. RCKS 05/25/12 09:40:34 AM
#18875   Richmond Manufacturing Index bbgold 05/22/12 02:33:19 PM
#18874   Potential Trading pattern? bbgold 05/15/12 02:39:20 PM
#18873   SP Futures 1388-1384-1388 bbgold 05/04/12 07:34:44 AM
#18872   ISM 35th Consecutive month Positive? bbgold 05/01/12 12:54:22 PM
#18871   Old Market Mantra 'Sell in May and Stay Away!' bbgold 05/01/12 10:17:22 AM
#18870   The Government will Save us bbgold 04/27/12 03:43:46 AM
#18869   Diverging Interests in Holdings bbgold 04/26/12 10:49:45 AM
#18868   Extremely Negative Econ News=Markets Up? bbgold 04/25/12 09:20:06 AM
#18867   Continuing Claims/Unemployment Rate bbgold 04/06/12 09:58:58 AM
#18866   Another Umemployment pump up? bbgold 04/05/12 10:18:18 AM
#18865   Richmond Manufacturing Grossly Negative bbgold 03/27/12 10:34:13 AM
#18864   Reversal started after 4am bbgold 03/26/12 04:06:00 PM
#18863   Bob Bernanke whispered there will be more QE. There RCKS 03/26/12 12:34:48 PM
#18862   Rally on Negative news? bbgold 03/26/12 10:35:37 AM
#18861   PPT working overtime? bbgold 03/26/12 09:50:01 AM
#18860   The reality is manipulation imo bbgold 03/22/12 03:53:08 PM
#18859   Hi Bob RCKS 03/22/12 03:39:32 PM
#18858   Morning Steve, thanks bbgold 03/22/12 08:34:19 AM
#18857   Hi Bob RCKS 03/21/12 01:01:31 PM
#18856   On the road, topping candles DAX/FTSE? bbgold 03/19/12 12:27:28 PM
#18855   3 pm was Fed announce? bbgold 03/13/12 05:15:06 PM
#18854   Bob IMO charts currently do not look like RCKS 03/13/12 01:15:14 PM
#18853   I agree on the Melt up bbgold 03/13/12 12:20:12 PM
#18852   Its entirely possible we are in the midst RCKS 03/13/12 10:47:24 AM
#18851   Market disconnect Euro/Gold bbgold 03/13/12 10:37:47 AM
#18850   Similar to Nov now bbgold 03/13/12 09:42:33 AM
#18849   Hi Bob RCKS 03/09/12 01:54:24 PM
#18848   Markets should be Done bbgold 03/09/12 10:15:59 AM
#18847   1340 support for now bbgold 03/06/12 02:59:15 PM
#18846   Here is my spy 60 min chart in RCKS 03/06/12 02:52:34 PM
#18845   Gap should not be filled today, that would RCKS 03/06/12 11:09:51 AM
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