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The Daily Market Sentiment
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The Daily Market Sentiment

  #1 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
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Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
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The Daily Market Sentiment

I thought I would start this thread to get everyone's insight each day on the current market sentiment in the
indices.

I trade the NQ, however, the YM, ES and TF are closely correlated, for the most part.

The upcoming barrier in front of us is Monday.
Friday was a massive sell off. Twice the normal correction in NQ.

So, this leads to the question.

Is this the beginning of a bear market turn around?

Will Monday just be the classic consolidation waiting period before a push up to continue this
years long bull market?
Or does this thing sell off at the Asia open Sunday and never look back?

I'll jot down my journeyman observations each morning before the London open and perhaps
the seasoned veterans among us can give us some market history if they see a longer term
pattern shoring up.

Let's discuss the indices each day, shall we ?

grazie for any contribution to educate me in the fascinating world of Macro Economics and Market Sentiment.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #2 (permalink)
Quick Summary
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
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The initial tweak to the downside on Thursday was caused by some China data. The escalation
on Friday appeared to be the addition of tapering fears. Thus the Yellon effect.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #4 (permalink)
Market Wizard
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Hi,

Here is my take on the NQ. BTW, this is my favorite instrument too.

This is my first attempt at doing this analysis using MT4. The price levels differ a bit from what we get from the CME as it is a CFD contract but the pivot swing structures are similar.

As you can see we are at the bottom of the current month developing value area. Also, we are breaking down an upsloping trend line and crossing the 200 EMA on this 4 hour chart. Those traders who are still long will begin to feel some pain. The previous month still show a swing area that is still valid as a demand zone so prices may penetrate this area and we may experience a bounce off this zone which in my opinion has some potential for a long trade after which we can see a retest of the upsloping trend line to the downside and then we could expect a retest of the previous month value area low. That's basically what i see.

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  #5 (permalink)
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NQ1440

I don't trade NQ, but this was "perfect geometry". Nicely done NQ!
the supporting levels are noted on the chart!
Thursday & Friday intraday trading direction could not have been clearer.

Attached Thumbnails
The Daily Market Sentiment-nq1440.png  
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  #6 (permalink)
Market Wizard
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Gabriyele View Post
I don't trade NQ, but this was "perfect geometry". Nicely done NQ!
the supporting levels are noted on the chart!
Thursday & Friday intraday trading direction could not have been clearer.

Spot on Gabriyele for the AB=CD on this longer timeframe.
Vive market geometry!

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  #7 (permalink)
Elite Member
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trendisyourfriend View Post
Hi,

Here is my take on the NQ. BTW, this is my favorite instrument too.

This is my first attempt at doing this analysis using MT4. The price levels differ a bit from what we get from the CME as it is a CFD contract but the pivot swing structures are similar.

As you can see we are at the bottom of the current month developing value area. Also, we are breaking down an upsloping trend line and crossing the 200 EMA on this 4 hour chart. Those traders who are still long will begin to feel some pain. The previous month still show a swing area that is still valid as a demand zone so prices may penetrate this area and we may experience a bounce off this zone which in my opinion has some potential for a long trade after which we can see a retest of the upsloping trend line to the downside and then we could expect a retest of the previous month value area low. That's basically what i see.

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Beautiful !!! ....exactly the kind of stuff I am after. ... Expanding my horizons!!

Grazie , my friend


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #8 (permalink)
Elite Member
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Gabriyele View Post
I don't trade NQ, but this was "perfect geometry". Nicely done NQ!
the supporting levels are noted on the chart!
Thursday & Friday intraday trading direction could not have been clearer.


Fantastic !! I remember dabbling with the measured move stuff with you a year or so ago and thought
then how amazing it was. Then I slid back into my scalping / small swing trader ways, just to earn a living
more comfortably and "quicker" ... just a couple hundred $ a day - in and out.


But that is not the TRUEway to trade. These longer term structures are where it's at and I want
to learn for good, this time

So ... the AB=CD is just a measured move of 100%, correct?

and are the drawing tools you are using part of the toolbox comes from Edge @ High Tech Trading Analysis, LLC | Draw Bar ? Ultimate ?

Super cool stuff, man... I have got to add this to the box.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #9 (permalink)
Elite Member
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Posts: 1,589 since Sep 2010
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Thank You

Thank you, guys for helping me notch up my game.

I feel big things this year


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #10 (permalink)
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tderrick View Post
Fantastic !! I remember dabbling with the measured move stuff with you a year or so ago and thought
then how amazing it was. Then I slid back into my scalping / small swing trader ways, just to earn a living
more comfortably and "quicker" ... just a couple hundred $ a day - in and out.


But that is not the TRUEway to trade. These longer term structures are where it's at and I want
to learn for good, this time

So ... the AB=CD is just a measured move of 100%, correct?

and are the drawing tools you are using part of the toolbox comes from Edge @ High Tech Trading Analysis, LLC | Draw Bar ? Ultimate ?

Super cool stuff, man... I have got to add this to the box.

Yep! his toolbox is full of goodies
speaking of BIG things,......2014 looks like a "displacement" year!

ooops a typo on the 2012 candle

Attached Thumbnails
The Daily Market Sentiment-nqyearly.png  
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