Friday, February 24, 2012
post Market Friday Feb 24th
Market opened between H3 and L3 showing a likely sideways day. When it came up to touch H3 it was a perfect place to short at 1367 stop just on other side of H3 at 1371. high for the day was 1367.50. took 3 pts when touched 1364 in a very narrow day on Friday.
Thursday, February 23, 2012
Numbers for Friday Feb 24th
H4 1370.93 R2 1372.67
H3 1367.21 R1 1368.08
P 1359.17 top range 1363.34/ bottom 1357 (wide at 4.34)
L3 1359.79 S1 1354.58
L4 1356.08 S2 1345.67
2 day higher relationship on cams, Wide numbers from trend day Thursday. Bullish until proven otherwise. Buy zone remains Pivot to S1. Look for open to confirm bullish trend...then buy pullbacks into H4, H3 or L3 on Cams. Also since L3 is inside the Pivot range that is a Golden Zone and should act as even more solid support. Only way to look for downside move is if we open below L4. Look to get on bullish move at this point. We do have wide numbers and could have a sideways day with not much of a breakout. Weekly H3 is 1366.50 and also resistance at this point.
H3 1367.21 R1 1368.08
P 1359.17 top range 1363.34/ bottom 1357 (wide at 4.34)
L3 1359.79 S1 1354.58
L4 1356.08 S2 1345.67
2 day higher relationship on cams, Wide numbers from trend day Thursday. Bullish until proven otherwise. Buy zone remains Pivot to S1. Look for open to confirm bullish trend...then buy pullbacks into H4, H3 or L3 on Cams. Also since L3 is inside the Pivot range that is a Golden Zone and should act as even more solid support. Only way to look for downside move is if we open below L4. Look to get on bullish move at this point. We do have wide numbers and could have a sideways day with not much of a breakout. Weekly H3 is 1366.50 and also resistance at this point.
Post market for Thursday Feb 23
After watching the market selling off in premarket from a overnight run up..I looked to see how the 20 min and 30 min range looked.... When the L4 looked to be failing on the downward opening push....I looked to get long at L3. Feeling it was going to be another sideways day...the failed down move at L4 gave a good signal to get long at L3... with target of H3 and H4. Each of which were hit. Good for 6pts. Long at 1354 with stop under L4 lows.... H4 target hit at 1360.
Wednesday, February 22, 2012
numbers and outlook for Thursday Feb 23rd
H4 1360.01 R2 1364.25
H3 1357.88 R1 1360
P 1356.50 narrow range top 1356.87/ bottom 1356.13
L3 1353.62 S1 1352.25
L4 1351.49 S2 1348.75
Wed market closed below pivot...and we now have a Lower 2 day relationship... so look for open confirmation to go lower... then look for pullback to daily H3, L3 or L4 to get short. also closed right on S1.. if we get confirmtion on cams...look for Pivot and R1 zone to be resistance zone and also place to get short.
H3 1357.88 R1 1360
P 1356.50 narrow range top 1356.87/ bottom 1356.13
L3 1353.62 S1 1352.25
L4 1351.49 S2 1348.75
Wed market closed below pivot...and we now have a Lower 2 day relationship... so look for open confirmation to go lower... then look for pullback to daily H3, L3 or L4 to get short. also closed right on S1.. if we get confirmtion on cams...look for Pivot and R1 zone to be resistance zone and also place to get short.
post market Wed Feb 22nd
Market opened just below L3, with a previous day outside day had me looking for a sideways day... this pretty much confirmed sideways consolidation. Hard to trade.... But looking at weekly Cam could see L3 at 1353.50 area as a good long location based on belief that we would stay sideways and not break hard in either direction.
I was not in front of computer but it turned out that L3 weekly was a good entry and target back up to L4 daily at 1355.25 and daily L3 at 1358 for 2nd target was the trade of the day.
On sideways days like today I also like to turn on Keltner Channel and trade against the extremes. settings on my Keltner 34 Mov Ave Length, and 51 True range Ave Length. This takes away too much wiggle. I trade the extremes and if it pops out one side...I wait for it to come back inside Keltner and go for the other side of channel. AGAIN, only trade this way during a sideways day. Trending days and the Keltner is harder to trade.
I was not in front of computer but it turned out that L3 weekly was a good entry and target back up to L4 daily at 1355.25 and daily L3 at 1358 for 2nd target was the trade of the day.
On sideways days like today I also like to turn on Keltner Channel and trade against the extremes. settings on my Keltner 34 Mov Ave Length, and 51 True range Ave Length. This takes away too much wiggle. I trade the extremes and if it pops out one side...I wait for it to come back inside Keltner and go for the other side of channel. AGAIN, only trade this way during a sideways day. Trending days and the Keltner is harder to trade.
Tuesday, February 21, 2012
Feb 22 numbers
H4 1366.26 R2 1370.76
H3 1363.50 R1 1365.76
P 1360.75 pivot range is zero
L3 1358 S1 1355.75
L4 1355.24 S2 1350.74
slight outside 2 day relationship but still narrow... will see where market looks to be opening 20 min before market open. We did still close above pivot and S1 so still a bullish bias but looking toppy, wait for market zone open to see if confirming.
H3 1363.50 R1 1365.76
P 1360.75 pivot range is zero
L3 1358 S1 1355.75
L4 1355.24 S2 1350.74
slight outside 2 day relationship but still narrow... will see where market looks to be opening 20 min before market open. We did still close above pivot and S1 so still a bullish bias but looking toppy, wait for market zone open to see if confirming.
Feb 21st Post Market recap
Price opened between Daily H4 and H3. This confirmed bullish stance with friday closing above pivot....I looked for a Pullback to Daily L3 and Pivot range to take a long position. Went long at 1359 with a 3 point stop and 6 pt target to H4. Target was hit and took a 6pt winner.
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