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Thanks for the article, it's fuel for the fire. I'm reading about JPM now.
This is why I love trading with algorithms. Dr B's algo point is on point again from the weekend gameplan. http://imgur.com/cRO2CvI.png
Perhaps the market is pricing in the Q3 losses that are expected to be reported this week.
That OBV is an amazing indicator, I have to say. As soon as the buyall and NYSI charts confirm the trend has changed on both charts, that will be the line in the sand for me. The Russel2000 has been the leader of the indices and it's down almost 1% as of now.
The SVXY chart has always provided an excellent direction of trend for SPY. It's clearly giving a new direction.
Watching for that 1168 breakout! Your chartist friend is definitely right about a top forming. All world indices are also forming a top. Europe and China down more than 0.60% last night. http://www.investing.com/indices/major-indices
The documentary on netflix, Money For Nothing, has helped me understand a little bit of how the Fed functions. By the way, they are all incompetent, except for Paul Volcker.
It looks like it wants to roll over. Bad earnings and lower guidance will make that happen. Then again, bad news has been good news as of lately.
The algos will do anything in their power to hold it up until they can't. Only a matter of time...
Good morning! The day will come when this chart rolls over. I suspect the buyall and nysi charts will confirm the trend either today or tomorrow.
As far as the financial sector goes, at we'll know what happens from JPM reporting tomorrow. Should be interesting.
This is great! I've only followed the buyall chart. Thanks!
I never really used the OBV in my charts, thanks for pointing out the distribution. I think the buyall chart http://imgur.com/hTNPvke.png from today had a nice set up. The DPO is now back to the 0 line, which is first to indicate the end of a trend, and the green blocks are becoming shorter. I'm waiting on secondary confirmations like adx2 crossing red over green to buy puts. Also the cross confirmation on the NYSI chart does not yet indicate an end in trend bcus the DPO is still away from the 0 line. http://imgur.com/LEa1nox.png
For those who don't know algos are at work get pressured to participate in this weak algobot rally.. This week will be telling. I normally buy 1&2 week options on spy when a clear direction is given. The payout is amazing!
Just beautiful!
From DrB this morning
PREMARKET UPDATE 1. Asia and China up huge on china stimulus plan..... 2. That weakened the dollar and shot gold much higher , OIL barely higher since it's overbought short term 3. Europe and usa futures barely higher to unchanged in futures because they are also overbought short term....hence the minimal effect from China rally. 4. Earnings are truly all that matter this week for any rally continuation.
I normally buy 1, 2 for breakout profit and buy 4 week option for long term trend, investing more on the 4 week option.
That algo point was on point at 1168 resistance. I will enter only if it breaks 1168 and holds.
Dr B is definitely a guru. I like his style as well. This is what I see happening with SPY at the moment.
I'm also available to talk if you have questions. My email is under my contact.
http://imgur.com/HlpBqfB.png
http://imgur.com/mRUl3wa.png
http://imgur.com/fNV8fi1.png
Ah yes, the honey do list. Tell her Dr B gave you a prescription and you have to do it! He tickers he avoids is for good reason. As you saw on SPX today, it hit the algo point precisely at 2020+-5 for human emotion. Bcus it didn't go any further and no catalysts for today it dropped back down to 2000+-5. These algos are easy to use bcus they virtually do the work for you!
I completely agree that this is to reset the indicators. If you look at the NYSI chart, the downward trend was not even hit during the last market selloff in August. This leads me to conclude that a larger selloff is coming, but then again what the point of having a market if the Fed will prop everything up? A good documentary on this is "Money for Nothing" on Netflix.
Sounds good!
Did you go with $99 or $25? I forgot to mention that if you're $99 you can text or call him and ask questions during the weekend or intraday. One of the benefits of $99, although I never call or text bcus the algo levels are very logical and predefined.
Good morning,
Good to hear! Glad you're going to take advantage. His algo's are spot on and work very well. He uses tight stops in most of his trading bcus he never wants a loss, no matter how small. In the end the algo does work and you'll be glad you have this knowledge while others rely on charts for their analysis. One thing you'll learn is that algos trump any technical set up on a chart ;)
Yeah, that's how it works and many small day traders get kicked in the groin with losses. I trade with algos and you'll never lose with spy or oil again. SPX is coming up to 2020+-5 then it will get shorted back to 2000 unless there is another catalyst.
Basically the way that these indexes trade is with catalysts, to get to a higher or lower range...
Oil got that with opec news
Spx got it with fed minutes
Also, I find that the ADX14 works very well along with ADX3 on the NYSI and the PMOBUYALL charts. These charts has helped me secure some of my largest profits.
2005 is trying hard to break. Will go to 2020 next.
Haha invisible money is definitely the name of this game. Fed was scared in minutes to raise Hence weak dollar Hence spx rally Hence oil rallies to test 50 huge gains on uwti..... Now im watching if 2000+-5 breaks And if oil 50-51 range breaks. And the market will buy it up as long as Yellen keeps smiling every week. Otherwise, back down we go on the close-to-overbought chart. I got in at 1901 and have been riding this wave bcus NYSI chart hasn't told me to get out yet and the algo levels I mentioned to you have worked like a charm.
Using my DPO setting on the NYSI chart along with ADX3 and HeikinAshi candlesticks, has allowed me to stay in the trend for a long time. I normally buy 2&3 week options.
I use DPO(1,1) and adx3 on the buyall chart using HeikinAshi candlestick setting. Works like a charm every time.
His intraday alert is $99 per month, which I don't feel is very useful. He gives the same alert to ppl who are $25 members during the weekend game plan and he'll often update at the end of each day about what worked and how to correct some new traders' trading style so they are not day trading but sticking to the algorithm levels to hit in order to jump into the trade. He trades a lot of other things as well but I only trade oil and spy. You can sign up with him at Drbsalgorithm@yahoo.com. He takes payments through paypal and I can vouch for him that it is very accurate. But playing the chart, like the pmobuyall, NYSI, NYMO is very helpful also.
Yeah I know what you mean. They are pretty much gone. It's the world of high frequency computers now. There is not a website. The guy built his own HF algorithm and has a team of about 300+ members who attack when algo levels are triggered. It's spot on and very tactical. I haven't lost on SPY or any OIL trades yet.
The next algo for oil if 50 is broken is 56+-0.50
If you follow oil, same algo trading gimmick there. Algo short at 50+-0.50 it just got rejected so it will go back to 47.20+-0.50
I subscribe to algo ranges. There is a large short at 2000 ready to dump and another one in que at 2020. If 2000 is broken we can certainly see 2020. Otherwise it's back down to 1975+-5. The next drop is to 1933+-5, then 1901+-5, then 1870+-5. There is a large buy to cover at 1850. This is why when 1996-7 range was just tested it was knocked down and has been trading between 1995-1980(1975+-5) for couple days now.
If 2001+-5 breaks it will go to 2020 unless Fed minutes throws it off. That's how algos have been trading this index.
Yeah, Algorithm short range is at 2001+-5 and 2020+-5. Trading range between 1995-1975+-5
Good catch on the 1 min. Perhaps after the Fed minutes report t3 top will breakdown.
Decreasing NYSI chart TL since every Oct low. Has not touched the TL yet. I expect it should touch it mid October? http://imgur.com/VsO9WjN.png