Inverted head and shoulders on the SPX?

Cheers Chuck.
Fair enough if you dont want to share it. I have a hard enough time 'importing' code into ninjatrader so ill stick with what i have!
Right or wrong it gave me a nice signal today. I would love to post a chart, but I had a friggin powercut today and thus the data starts over from scratch! but it was basically a divergence where the market made a slight new low and my delta indicator had made a higher low and was moving up.
I think the trade was at about 4pm (UK time), so about 11am for someone in the U.S? the MARCH ES contract was trading at about 772
 
Quote from pocketmoney:

Cheers Chuck.
Fair enough if you dont want to share it. I have a hard enough time 'importing' code into ninjatrader so ill stick with what i have!
Right or wrong it gave me a nice signal today. I would love to post a chart, but I had a friggin powercut today and thus the data starts over from scratch! but it was basically a divergence where the market made a slight new low and my delta indicator had made a higher low and was moving up.
I think the trade was at about 4pm (UK time), so about 11am for someone in the U.S? the MARCH ES contract was trading at about 772
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yes I see what you're talking about; I actually went flat @ that point. Was in a long from a bad price so closed remaining positions there @ BE+2. Was waiting for price to come another couple of points down before jumping long again. Made the same mistake yesterday.. was trying to get greedy with my fill price. Oh well :)

Went long @ 14:07 EST and the damn surge didnt give me enough time to move my 3rd target out of the way so I got forced out way early. Win's a win...

Lessons learned (hopefully)
 
Quote from AMT4SWA:

Yes.....I will be watching the low 800's if we can just get up there! :D

Selling in that area will be ripe with excellent price rotations imo. This area will be enhanced by LONG's that may be as much as 200+ points in the money itching to take profits into each dramatic pullback off resistance zones. :)

Have a great night all! :)
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How does the old supply look here for the 800 level? Do we still have a net supply to work with for the shorts?
 
Quote from AMT4SWA:

Yes.....I will be watching the low 800's if we can just get up there! :D

Selling in that area will be ripe with excellent price rotations imo. This area will be enhanced by LONG's that may be as much as 200+ points in the money itching to take profits into each dramatic pullback off resistance zones. :)
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BTW, typo above....should say 100+ points not 200+ points.

Well, looks like the market stopped COLD at the low 800's today as it hit the next zone of resting short held inventory.....I hope some of you sold that low 800's touch! :) We should have an interesting time until we can trade above the 805's......market will have to work this zone a bit to attempt a breakthrough (fair amount of held inventory low 800's to 805's). :)
 
Wanted to post this screen shot of tracking the CD and what is happening (quite a few times a day) when using IRT and the TransAct feed and using the DTN backfill. I dont think this is the Transact feeds problem (which is pretty poor btw, likes to disconnect etc..) The reason i dont think its TA's fault is because I could not collect data for lets say 30 mins and then use the backfill from DTN to back fill the chart and these screw ups are still happening

The attached example is a 5000 volume chart tracking delta and you will see in the time and sales for that particular bar (notice the lines drawn) there is a print of 7939 which is obviously wrong and is skewing the delta (the true value of that bar was no more then 300 TOTAL) The time zone is PST if you want to compare.

Anyway, anyone else out there having this problem? I am going to call DTN tomorrow or bring it to the attention of I/RT as well.

Thanks
 

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Quote from pinebilly:

Wanted to post this screen shot of tracking the CD and what is happening (quite a few times a day) when using IRT and the TransAct feed and using the DTN backfill. I dont think this is the Transact feeds problem (which is pretty poor btw, likes to disconnect etc..) The reason i dont think its TA's fault is because I could not collect data for lets say 30 mins and then use the backfill from DTN to back fill the chart and these screw ups are still happening

The attached example is a 5000 volume chart tracking delta and you will see in the time and sales for that particular bar (notice the lines drawn) there is a print of 7939 which is obviously wrong and is skewing the delta (the true value of that bar was no more then 300 TOTAL) The time zone is PST if you want to compare.

Anyway, anyone else out there having this problem? I am going to call DTN tomorrow or bring it to the attention of I/RT as well.

Thanks
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Before you let DTN.IQ off the hook with "hey it's not our problem", kindly remind them this isn't the first time they screwed up their so called "true tick" service --> http://www.elitetrader.com/vb/showthread.php?threadid=117012

:eek:
 
Quote from DB:

No HS on the SPX Daily chart...it lacks a right shoulder.
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Actually look in the mirror, I bet you see two shoulders and an empty head!
 
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