You should put a horizontal line at the zero line on the CO so you can more easily see how weak the market is . . .

Isn't today another VTO signal on the Qs if we stay down here?

Yes, but after the weekly MACD cross in MAR '11, the SPX turned right around and went up to new highs (forming the H of a H&S) and the market didn't really collapse until 4-5 months later.

Weekly MACD on SPX still crossed up. We were talking about using that as a filter to know when to buy dips or not. What would be great now would be to get a bounce to a new high and a diver on the weekly MACD and CCI, then collapse! The market may not be so accommodating, though!

When the market can't seem to bounce strongly when oversold, then it is time to look out below. All this chopping around sitting on support has left a bunch of bear flags on the major indices.

Look at the COs on the daily charts. Have looked ugly on this move down. This current VTO signal looks like it is going to fail.

Thanks for the chart M. Think the equity markets will hold on and go up from here?

sam, long term signal still on a BUY, but I don't have to tell you I don't like the way the market is acting.

gloe

Have a good one yourself.

gloe

Sorry I didn't see your posts sooner, citybird. Looks like the exit was good. Now down from there, and the NERS trade had switched to SELL.

Tuesday's hi was a gap fill from 4/9 gap down open. Love that IWM -- so predictable. Gotta stay on your toes to notice this stuff, though.

Out my short term TNA near yesterday's high R.

Worth doing -- jumping the gun on my short term BUY signal yesterday at the close. My risk was a gap down; we got a gap up in the direction of my trade.

You have to respect the fact that the Qs held their 50 day MA again yesterday; now with the gap up, SPY is back above its 50 day MA. SPY needs to hold it. So does the DOW. The gap up brought both of them back above their 50 day MAs.

Hi sbird. citybird. I like your name.

What a nasty day today. You could tell after the first hour or so it would not be pretty.

Long term signal still on BUY as of yesterday and I expect it will hold today. But the market isn't reponding, and I fear this signal may not work.

Qs retested 50 day MA this afternoon but from a higher level as the 50 day MA is sloping up, but SnP closed below the 50 day, so that is not good. And, the indices all look like they have bear flags on their intraday charts (60 min or so . . . )

gloe

A short term SELL signal triggered not long after I posted that. Now I have another POSSIBLE short term BUY signal setting up but not triggered yet. Not much more to go before the close, so maybe tomorrow.

Definitely ugly today.

The lower low today (lower than yesterday) triggered another short term BUY signal, but I hate the way the charts look today. Still, the major indices are holding above yesterday's close, trying for a green day. Whether we get them to stay green is another question, and one that I cannot answer, can I?

Nobody KNOWS what the market will do. The best you can do is develop a system that gives you an edge, take the trades, and use stops to keep losses small. And some would disagree with the latter.

Glad you got a piece of that sammy.

Praying for a slightly lower low in IWM.

Got that yesterday, and got my official short term BUY signal, but I had already bought more TNA and QLD at support. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74433207

My long term signal is not a NEXT DAY OPEN type of signal. Rather than get right in as soon as it triggers, you can usually get a better entry if you wait a bit. That is why when it flipped to SELL in mid Feb and then again recently, I said I was waiting for a rally or at least a strong up day in IWM to buy TZA. Now, with the signal back to BUY, I am buying dips.

Using this method helps especially when the market is choppy and the signal whippy: you can turn what might have been losers into winners, even if small, or at least break even.

When the market trends, my signal will catch most of the trend, such as the big sell off last summer and the rally that started last December.

Nibbled on a little more TNA when IWM tested a little S area near 79; and also a little more QLD as the Qs tested their 50 day MA.

AGQ TLB SELL signal so I am getting out BE on the long.

Edit: Changed my mind aboput AGQ; holding the long as we have S right here at PrevLo. Holding with a stop below PrevLo.

Long term signal still on BUY.

Well, I'm nibbling on some TNA and QLD. Not the set up I like to see, but with my long term signal on BUY, I need to buy this dip.

AGQ long 51.40ish. Hate to hold over the weekend, but gotta take the signal. 30 min TLB. I don't like the CO though. FXE has a really good bullish CO diver on the 30 min; unfortunately, FXA does not and AUD FX has what I would call a bear flag on the 30 min. So going in light AGQ long.

Praying for a slightly lower low in IWM.

Edit: Forgot to mention the 30 min iGh on Silver futes with the double HFE. Cute! (The CO is useless on 24 hour futures and there is no CO on FX. That's why I watch FXA and FXE: they have the CO.)

IWM -- at about 10:30-10:45 this morning it tested and held yesterday's low, and has been slowly making its way higher ever since. I can't tell if this is all the down we will get. I would really like to see a lower low (than today's low) or at least a double bottom on IWM based on today's low, to flip my short term signal back to BUY.

Out of my AGQ short for about $3.50. Silver futures have some support here. Also taking profits on my VXX long (moves inversely to the market so it is up today from yesterday's close.)

Sorry I didn't mention -- the short term general market signal switched to SELL yesterday afternoon (just about the same time as the SELL in AGQ, though they won't always match up so exactly). So yes, the move up flipped the long term signal to BUY but the weakening near EOD flipped the short term to SELL. Since the short signal is on SELL, we could wait for the short term signal to flip back to BUY so it is consistent with the long term signal, before we buy QLD and TNA.

I am just recently experimenting with the short term signal, so . . . it is a work in progress.

AGQ VTish SELL signal yesterday afternoon on the 30 min chart. Not really enough "rounding" to be a VT (you could call it a CCI diver/100 line break), but coordinated nicely with a SELL on the 15 min chart. 54.50ish.

I'm experimenting with using the 15 min chart to time an entry on an "imperfect" 30 min CCI signal.

My long term signal switched to BUY yesterday. As it is a new signal it wouldn't take much to flip it back to SELL.

Edit: Just looking at AAPL, it has been weak. I will buy some QLD and TNA on dips.

I'm buying some VXX. Just an experiment.

The 78.41 breached only slightly before this now BIG move up. It PAYS to watch daily charts at S/R at previous swing lows and highs.

I tight little iGH triggered yesterday about 3 PM for the BUY at 51.60ish on AGQ. Nice to know woodie patterns are good for something. (Silver futures has an HFE BUY signal at about 7:30 this morning.) With a general market short term signal on a BUY, I expected more up today, and we are getting it. This move up could trigger my long term signal to get back to BUY.

I am still experimenting how to use my short term general market signal. Should it be just a "go to cash" signal, or should I play it with part of the port thus hedging the long term signal? I am already hedged somewhat because of AGQ which often moves in the direction of the general market.

If I divided my port into 3 parts, and actually played the short term general signal, instead of going to cash on the long term signal, I would be short 1/3 and long 2/3 right now, for a net long of 1/3 my port. As it is right now I am 50% long because I went to cash on my long term signal, and am long AGQ.

Haven't decided what to do yet. I could ignore the long term signals and just play the short term signals , , that would be interesting, but more whip that way. And I hate whip.

you should already be short. but if you go to cash I would be short on another short term SELL signal. The long term signal is still on SELL.

Silver (AGQ) obviously resisting yesterday's close. 52.30ish.

My short term signal on the general market gave a "go to cash" warning yesterday at about 2:30.

If IWM breaks its 50 day MA decisively, I would look for a retest to get short again.

That chance to reshort occurred on 4/5 when IWM gapped down below its 50 day MA and then retested it. The 50 day MA then acted as resistance. Sorry I forgot to mention it.

The long term signal is still SELL.

Well . . . AGQ had a nice move up. Can't say the same for the equity markets.

78.41 was the exact low on IWM in early March. SPY is hitting its 50 day MA now. So we see what happens.

Last Thursday I had a TLB SELL for AGQ. Then nothing but chop yesterday. I don't have a good TLB but will risk a BUY here at the test of yesterday's low. Silver futures doing the same thing. SPX getting close to its 50 day MA and IWM close to 79. May be time for a bounce.

gloe

No I don't. My intraday charts aren't backfilling either, not even with my TDA feed. I have been using TOS charts now. They are fine for the way I trade. QT still backfills daily charts at least the last time I tried.

bye bye QT.

LONG term signal still on SELL. IWM has some support at 79 (that last swing low from early March when it hit its 50 day MA), which if it hits, could also bring the SPX down to its 50 day MA. I would expect that hold, but will just report the signals as they present themselves.