We bounced off the QTR A down at 1390. That was my target on the downside. Although trading is very light in ES so very hard to gauge that. However Oil and the Euro holding bids on the risk asset side so nothing to be alarmed about yet.
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The ACD Method
- Thread starter sbrowne126
- Start date
We bounced off the QTR A down at 1390. That was my target on the downside. Although trading is very light in ES so very hard to gauge that. However Oil and the Euro holding bids on the risk asset side so nothing to be alarmed about yet.
We basically have three products all near their QTR A downs. Oil, ES and Gold. Watch all three for your tells. I think if all 3 break, then you need to watch out. We "should" have a jobs report this week and of of course the election next week. No shortage of catalysts here to move this market either way. One thing is for certain, next week at this time, we won't be sitting here at 1400.
Quote from Maverick74:
We bounced off the QTR A down at 1390. That was my target on the downside. Although trading is very light in ES so very hard to gauge that. However Oil and the Euro holding bids on the risk asset side so nothing to be alarmed about yet.
larger issue would be the total economic cost which may get discounted, still
correction mode in es, if we got down to 1320 that would get some attention, a longshot at this point, es high was 1468 I believe.
Quote from kinggyppo:
larger issue would be the total economic cost which may get discounted, still
correction mode in es, if we got down to 1320 that would get some attention, a longshot at this point, es high was 1468 I believe.
I think the election will have 100 times the economic impact as the storm. Seriously. The storm is a one off event like an earnings report that takes a hit due to a one time charge. But the result of next Tuesday will have an incredible impact on GDP the next 4 years. Trust me King.
Quote from Maverick74:
We bounced off the QTR A down at 1390. That was my target on the downside. Although trading is very light in ES so very hard to gauge that. However Oil and the Euro holding bids on the risk asset side so nothing to be alarmed about yet.
Spoos bounce 18 handles off the QTR A down. Once again, just like last QTR, the levels hold.
Attachments
Quote from optionbull:
Hi
I understand this ACD just tells you were the market has been how does it help you determine whet future prices will do?
Spread NQ/YM?
Actually the opposite. It forecasts going forward based on historical volatility.
Regarding spreads, I like TF/NQ better then YM as TF has a -2 on the 5 day number line vs the -9 for YM.
Quarterly levels are holding in Gold, Oil and the ES but the 5 day number lines look like shit. Market is still very vulnerable here. As guy Adami likes to say, you have your bogie, those QTR levels to lean on. If they go, look out below. Very few bright spots in this tape.