Things have been very busy at Market Analytics, and its been difficult to find time to update these Showcases. I apologize to those who have been regularly checking back for new pages. We are trying to finish our latest project, and want to make it available to our customer base as soon as possible. So although these updates have slowed to a crawl, the timely arrival of our new product should more than compensate you if you are one of the regulars.
This showcase is being written in real time, as I noticed the S&P was doing something interesting. Below is a chart:
This chart shows the last week or so of the S&P charted with 30 minute bars. Some of the indicators should be obvious, such as the Exhaustion Bars (called every turn!), SlowK (at the top), and MA_Momentum (at the bottom). There are three other indicators which you probably have never seen before.
The first is a purple line across the high on 6/19. This is a new kind of support/resistance tool, and was generated back when the second Exhaustion Point formed on the 16th. The blue line moving through price is a beta version of an adaptive moving average we just started work on. There are new improvements to it each day, so this particular version may never live to see the light of day. Lastly, the green line is from our intraday S&P forecast subscription. This is actually a newer, better version, based on what is sent out in the email subscriptions. Notice that there is no longer a 1 day limit on how far the forecast can be projected into the future.
So far we've been running on the inverted forecast for the last 10 days when viewed from a larger scale like this. The forecast currently says we should look for a decline into the middle of the 22nd, starting today. The Exhaustion sell signal, purple S/R line, SlowK, and MA_Momentum curve all confirm that this could happen. The one thing to be cautious of is that the high came in late yesterday, which might actually mark an inversion point. If so, we should bottom today and rally into the 22nd rather than decline into it. An up-sloping trendline has been drawn across the recent bottoms. If we have inverted back to the regular, we probably won't be able to break through this today. Conversely, if we're still on the inverted forecast, this trendline needs to be violated soon. So although this trendline might not give us any trades today, it should give us a good idea of what to expect over the next couple of days.
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