Yery complicated and subjective analysis IMO. All I need is 2 numbers to place my trades. Just numbers, no pictures, lines, drawings, or anything else:
1. The probability of success in a given direction for given R:R
2. The significance of the probability
The p-Indicator as of the close of Friday (7/30) gave a reading of 63% probability with a significance reading of 5 for one of my targets of choice. This is a relatively high reading, normally speaking.
http://www.4shared.com/photo/-oqhRhH1/SPY20100730.html
Then yestrerday as of the close, it reversed sign but only for small target of up to 1% and gave a probability of 56% for short, which is relatively strong number for shorts, with significance reading of 6.
http://www.4shared.com/photo/o9KQ34Pi/SPY20100802.html
Medium term for larger targets it maintains a positive reading. Of course, this may change with today's closing data (I have not updated my series yet)
You see mate, different approach and analysis. Just 2 numbers and there you go.
