Actually I have posted it before, I'm not sure it worked though.
This is property of Martin Armstrong, but he once said he didn't mind plagiarism. The key line (and the only one I mostly understand) is the top one. It's not necessarily up/down in the dow, but a turning point. I think it could go from up to flat, then when it switches again, it could be either up or down.
This perfectly nailed the 9-15 top, 9-19 bottom, and the 3 day rally after that. It peaked again today, indicated a turning point, which I expect to be down. This is in contrast to evolution on the daily chart, however the sub-daily chart is a sell and the weekly chart is arguably bearish. I am a strong advocate of using evolution beyond the daily chart.
There was a daily bullish reversal at 18405. Usually when the market pass the reversal but not manage to close above it, we get a reaction in the opposite direction. For the 23rd we have a yellow bar in the trading cycle and high volatility. The yellow bar means that we possibly will trade both higher and lower than previous day. So what might happen is that we will start out positive and then close on the negative. I will enter a short position when the market opens again. What Greg also posted today is that we have a pivot point in the SPX. What is your opinion about this Joe?
ReplyDeletehow do you get the reversals?
DeleteI think the market will go down tomorrow, I have made several posts devoted to the topic!
There's no evidence on Evolution that we are at a pivot point. I figured out how the pivots work and they are worthless until you start getting other indicators too.
I don't think the yellow in trading cycle means that but he's usually pretty vague in his explanations so I could be wrong. I've kinda learned not to pay much attention outside of the composite lines.
Look at my next post also.
He posts them in the socrates service, which is seen as "private blog" in his open blog.
ReplyDeleteGreg made a video in the blog where SPX has a PP(pivot point). As I understand it, PP is just a heads up for a possible trend change and should not be traded on. It is also the source for the WMA. Is it possible to to use the system without the WMA? Because then I can set it up in NinjaTrader for example. It is just the PPhiLo that I cant find of all indicators.
Here is what Armstrongs help section in Socrates states about the bars "yellow indicates a projection for a high and a low during the same time interval". But your are right that the main indicator is the top row(composite). But the other can be very useful as well, but it takes a lot of time to get a hang of them.
Joe, do you hedge your positions?
Have a nice day and you are welcome to right me if I you think I am incorrect on something.