Market Direction INDU SPX OEX NDX RUT

YM trend is up, in a clear trend cannel.

Trailing stop could be set a 13150 (trailing on grid).
Thats a 70 point trailing stop for swing trading.
Current high at post time is 13220.

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Historical study (5 days timeframe):

Despite the big moves it was possible to trade against 40 point YM moves with a target of 40 points (trailing) and applying stops at 100 and good money management.

Is someone here who did exact backtesting over a longer time period?
 

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ER2 is looking weak.

Trend seems to be down (not in sync. with the other top indexes).

Big overhead resistance band 829 - 831.
 

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Quote from gg12:

ES trend is up.
Sideways movement within green borders.
1498-1504 before next leg up.
More...
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gg12;
Residential construction stocks are amoung the best downtrenders;
SPY just hit 150.00 in its uptrend, regular market hours,
but yesterdays up trend was on lower volume.:cool:
 
murray

Trends are still up.

I dont look at volume these days, because I found no relationship between trend and volume. Do you have backtesting statistics to prove some relationship?

Thanks!
 
YM yesterday.

I used a 5 point grid.

I calculate a wave starting with a length of 10.
I have added some signals (hindsight).
 

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ES is still up. Also the overnight level keeps high levels.

In attached graphics I used a 0.5 point grid to check for waves.

The waves have to be of a minimum length of 1.0 points (plus traded trough). That is that I can make sure that all ticks are traded (border ticks of a wave might not be trades ie for limit orders).
 

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