I have tried to apply my SW rankings to other markets but it just does not work like in Currencies, For those markets just good old technical analysis seems to work best
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Nasdaq is about to but in a bullish daily Engulfing candle. This should give us another round of new all-time highs. I have no idea how long this continues but we are heading into the two ( Aug & Sept) worst months for stocks, I for one will be buying any meaningful pullback
As I called yesterday, we are seeing new all time highs in most major indexes but prices are pulling back as I post this, now lets see where this finishes, Green candle then we go higher, Red candle then we pull back
I pulled these numbers about 45 min. before the daily close, not much happening
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Looks like JPY is inching toward the #8 position.
#7 Yen is actually closer the #2 then to 8
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By percentage, you are right.
(By jove, you are right!)
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Hi Dennis,
Usualy, do you only look at pairs that make up 2% or more?
I know this is jumping the gun, but there is a nice price action setup on EURCAD right now. Yesterday their positions were 1 and 7, and there was a spike up to the 200MA on the 1hr chart. Today that spike is a bearish pin on the daily. I got in at the high yesterday, hoping now for trend resumption.
the 2% rule does make for a good filter and has worked well with our current Top SW Trade GBPCAD*
for the day trader you had a great short entry where price failed at the 1hr chart 200 ma
Isnât that TC2000 from Worden??? Looks familiar. Or very similar anyway. I just ditched them in favor of TradeStation (for some very dumb reason their market internals are still not in realtime even with the paid for exchange data).
But yeh: it tanked nice intraday from a Weekly pivot so a good trade (and had I had my wits about me today I would have gone short with the CORRECT lot size and made a fair whack instead of peanuts but thatâs all another story). But I donât know: now that Iâm sitting staring at market internals all day Iâm not sure about this rally. You can actually see the sheer grind higher but it doesnât take much to cause these things to tank with a vengeance. But yeh: for now looks like youâre right (and the Futures just sailed through that Weekly pivot a few minutes ago). Companies start reporting earnings next week though. Should be interesting.
Volume on these moves up also nothing to write home about:
[quote=âdpaterso, post:3097, topic:77959â]
Isnât that TC2000 from Worden??? Looks familiar
[/quote
good catch , yes it is
Top Trade GBPCAD* is still moving sideways, but we do have all three commodity currencies at the top of the rankings, that is something I would expect during a risk-on bull market move in stocks
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Agreed only thing missing is a weaker CHF? Canât all be perfect though, right. And Brexit just has Sterling all screwed up!
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Itâs actually very very nice charting software. I just cannot fathom why the market internals like $TICK are delayed because that data is actually included in the exchange fees. And it costs a fraction of TradeStation. Just donât get it.
Anyway. Have a great day. I see the Futures are on a real rip overnight!!!
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Top Trade GBPCAD* did inch out a new low but it was flat for the week, we saw very little movement throughout my rankings for the week.
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Looking for hints as to where this market might be heading letâs look at gold, After a breakout move higher and an end to the 6-year gold bear market, we have seen gold consolidate these last 3 weeks, with continued talk of a Fed interest rate cut ( totally wrong move in my opinion) , a rate cut would likely send gold shooting higher and more all-time highs for stocks. this intern should weaken the US dollar and keep CAD, NZD and AUD at the top of our SW rankings,
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