Replies to post #12302 on Market Sense and Sentiment (MKTSS)

[bbgold]

Hi GR,
That is how I get most of my answers, I asked questions. I am glad that you are asking them. Bernard has some of the Futures links in the iBox. This latest link to the CBOT mini Dow Futures is free realtime so I really like it http://www.cbot.com/cbot/dow/page/0,2611,2+12,00.html
Another link that I like to look at in premarket and to check the overnight S&P Futures movement is this Lycos link
http://finance.lycos.com/home/livecharts/default.asp?symbols=CME%3AES03h
It is only realtime though until 10 minutes before the markets open and then it goes 10 minutes delayed. Using the Lycos link you can click the Chart button and select 24 Hour chart to see how the Futures reacted overnight. The main reason I look at the overnight Futures is to see if there has been a breakout or breakdown of previous support or resistance and what the trend might be indicating. If the Futures are trending higher or lower then that can sometimes help in determining if a trend is reversing or continuing. Overnight S&P found resistance at 805 so in effect never made it back above the SMA resistance. If you have read any of the Darvas Method board then understanding how the Box theory works can easier be seen to some degree on the Lycos link boxes. Primarily you want to be watching for the trend direction and if previous support failing and becoming resistance, downtrend, or if previous resistance is being broken and becoming support, uptrend. Following the Futures links can sometimes help in seeing this as all of the other trendlines and indicators are not in the way. By using the overnight indications we have effectively set up the Box for the Market, 7445-7555. As the support and resistance levels change we can adjust the Box levels and continue to look for Support and Resistance levels. If you look at the CBOT link you can see that overnight resistance was 7470 at 7 AM. That might turn into Support here and give the markets a boost, maybe. BTW, I had to download something from the CBOT website to get the realtime Java script. Realtime is the one that you will want as it will automatically update. I hope this helps :^)