Question for Grob/Hershey...

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I do three types of setups, pullbacks, pm bo's from certain types of formations, and double tops and bottoms. I wasnt talking about the pullback as I dont like a pullback after a volume spike like that one and even if I had the spread wasnt big enough to mess with. After a spike like that one you are thinking reversal. The only reason I commented was that it was such a huge divergence you would have to be blind to have missed it.
 
I was thinking a lot about a pullback one hour later - around 12.30 - when I read your post, so I wasn´t refering to the situation you commented at all, just my mind drifting, never mind...
 
No harm in asking questions. When you learn to trust those ma's like I do they will keep you out of a lot of iffy trades. If they fail to support or resist a pullback, beware.


Rule #478 subsection A :)
 
Quote from easyrider:

.......................When you learn to trust those ma's like I do they will keep you out of a lot of iffy trades...............................
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IMO, confidence in MA's is ALL one needs to make a good living from the intraday markets (with conservative money management, of course). It is quite surprising to me how most on this site - especially newbies - are so quick in rejecting MA's as 'lagging'.
 
Thought I would throw this in there for stalker. Here we have a pullback from the hod to the 20ema, true, BUT: the thing to keep in mind about good pullbacks is that they are reluctant. They pull back grudgingly. They dont fall out of bed. This may move up but I didnt take it.
 
I see what you mean.
There was also a similar divergence price-volume as yesterday (no spike though). I also noticed Ym refused to make new highs a couple of times while ES did it. Ym also didn´t make it to yesterdays high.
I´m still crappy at analysing the relationship es-ym, I just try to watch it.
 
Quote from Stalker:

I see what you mean.
There was also a similar divergence price-volume as yesterday (no spike though). I also noticed Ym refused to make new highs a couple of times while ES did it. Ym also didn´t make it to yesterdays high.
I´m still crappy at analysing the relationship es-ym, I just try to watch it.
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I dont try to use YM as a leading indicator for ES. It may be so on a micro level but on the 5 minute chart I just dont see it. What I look for is just what you mentioned. Are they confirming one another? If they are not in synch this is a warning to me to be very cautious.
 
Why THOSE twenty? Why not the largest cap 20 in the S&P500? Or the largest volume 20? Or 20 picked with blind dart throws? Or the 20 most relevant to today's economy? Or the 20 with the hottest growth? YM? Pure superstition!
 
Because "smart money" buys those 30.
Quote from hypostomus:

Why THOSE twenty? Why not the largest cap 20 in the S&P500? Or the largest volume 20? Or 20 picked with blind dart throws? Or the 20 most relevant to today's economy? Or the 20 with the hottest growth? YM? Pure superstition!
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