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The Daily Market Sentiment


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The Daily Market Sentiment

  #1 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
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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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  #3 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532


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)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
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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)
 
Gabriyele's Avatar
 Gabriyele 
LA/CAlifornia REpublic
 
Experience: None
Platform: NT7
Trading: Chello
Posts: 3,017 since May 2011

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.

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  #6 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
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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)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532


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.



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

Grazie , my friend


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #8 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532


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"
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #9 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532

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"
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #10 (permalink)
 
Gabriyele's Avatar
 Gabriyele 
LA/CAlifornia REpublic
 
Experience: None
Platform: NT7
Trading: Chello
Posts: 3,017 since May 2011



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

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