This is supposed to be a 2-day slide I think. If it looks like the previous 2 pink days. Then the blue day on 9-27 should essentially be flat, followed by a very big day. Monday's drop looks more severe than todays, based on this array. I don't understand the volatility row. It goes from really high today to non existent on Monday.
At this point it looks like be short until the 26th. Probably wait until the 27th and go long then. Sell on the 28th. I think the large difference in height between the 28th and 29th indicates a pretty aggressive drop that day, also, note the panic cycle bar. That looks serious.
This is so choppy I wonder if evolution will have trouble with it. I've found evolution to work the best in stable environments, and Armstrong says his stuff works best in the craziest of environments.
This is the timing array talking not me. Since we are getting a ways out from when this graph was made, it might have changed. I hope we get a new one soon.
Thanks Joe for sharing!
ReplyDeleteJoe,
ReplyDeleteI've been watching PNRA. Right now the daily on Evolution looks good for a call, Weekly looks better for a put, and hourly is indeterminate.
Based on your use of Evolution what conclusions do you draw?
Thanks, Guy
I'm focusing my energy elsewhere! But it's a crazy confusing signal for PNRA.
DeleteMannarino likes to have puts and calls so he's shielded from broader market spikes, so this is a buy in a sea of sells, so it's valuable for that.
I'm personally not going to do it. I wonder if Fridays, the weekly is more prone to overpower the daily? I'd definitely wait for a strong buy on the 30 minute chart, and probably try to wait until Tuesday morning to go long anything.
Thanks for your time Joe.
DeleteI am not at all sure that Mannarino has any interest in charts other than the daily, but I do agree that the weekly and 30 minute or hourly can provide important support. I just have to figure out exactly how to use them.
Anyway, I agree that in this crazy market I am not exactly rushing into something with mixed signals. Have a good weekend.
Yes, the arrays are kind of dynamic, they are relative each other in that timeframe. Because I saw some other chart of arrays with partly the same days and the rows didn't look the same for the same day, if you follow me.
ReplyDeleteSo I agree, I hope we get a new one soon.
"The Volatility Models provides an indication as to when a change in the current volatility trend will take place. Unlike timing, volatility is only concerned with percentage movement and not the direction or whether a high or low has formed within the market. The model reflects "turning points" but in volatility. Thus, the low in volatility might form on the highest bar while the high in volatility could unfold on the lowest bar."
ReplyDeleteBtw, do you know of any a blog or forum dedicated to discussing Armstrongs models?
ReplyDeleteno, other than me! I'll talk about what I have. Usually I have trouble getting anything usable from him. I keep checking for updated arrays
DeleteOk, keep up the good work Joe.
Delete