Sorry but part of that study is custom-made and for obvious reasons I want publish its code. If on the other hand you are talking about pivot calculations and their extensions I have no problem in giving them since they are basic stuff.
The pivot range is the one used by Mark Fisher and their extensions, well, I guess the extensions are my idea since I never saw anyone doing this. Just add the pivot range to the high and subtract it from the low. That's it!
Regards.
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No time for a chart right now, but I am looking for 1340 Friday on ES, and I think there is a very good chance we will break below 1335 and look to test 1324.
There's a good chance you're right but I think we might get a couple more points on the upside before it drops....might not happen but would like to see it.
For today we have had so far a very small ON range which will facilitate the break of one of its extremes during the RTH.
Prices have been trading right on the upper extreme of the pivot range.
Looking at the ON profile we can see prices right above that yesterday RTH LVN.
Finally, looking at the RTH profile, we see some support around 1307/08.
So my idea, at this moment, is to look for a break of the 14 area (right below the ON low) that might generate sufficient sell pressure to bring prices to the 07/08 area, not only testing that apparent support that has been forming for the last 4 days but also that 08 area coincides with the base of the pivot range seen in the first chart.
Also, the composite for the last 6 days shows a VPOC right at the 08 area.
If I become half a percent smarter each year, I'll be a genius by the time I die
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Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
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Trading: Emini Futures
Posts: 49,780 since Jun 2009
Thanks: 32,306 given,
97,567
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My view.
1) Head and Shoulders, not that I really care
2) Inability to set new highs
3) The Sunday gap was immediately sold fast and furious, and this week once again inability to set new highs
4) No divergence on delta
So I still believe another wave down is coming. Looking for 1290 as T1, 1280 as T2.
I just love when prices are stuck inside the IB's range. In hindsight it looks like they just flow inside the IB's main areas.
For now I can't see how prices will be able to go higher with so many obstacles ahead.
Today's VA high at 25.25, right below the open price. VPOC at 23.50 where it's trading right now. Also 25.75 is a LVN from yesterday.
We really need to trade above the pivot range, 24.75, so value can raise and prices start to receive buy interest. Otherwise we might start to drift lower again towards the lows.
If I become half a percent smarter each year, I'll be a genius by the time I die
Suggestion: Would be great if BM forum had a weekly sentiment analyzer poll on front page every weekend. Something like SnP500 will close (1) higher than xxxx on Fridays close (2) lower than yyyy on Friday close
That's an interesting idea. The weekly futures.io (formerly BMT) sentiment indicator.
But I would made it not that specific, not specifying an "x" S&P price.
For example, it would be released every Sunday night, prior to the futures opening, the sentiment for that week. Will the market close higher or lower by Friday's session end? How many bulls and how many bears? That's it.
You could also divide it by Treasuries, Commodities, Equities and Currencies. If you start to be too specific about it people will be lost in it. A simple broad sentiment would be preferable.
The size that futures.io (formerly BMT) has, I think that sentiment indicator would be interesting to follow...
If I become half a percent smarter each year, I'll be a genius by the time I die
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