Was at the Relief point last week but I think we're back verging between Hope and Despair. I hazard a guess the B% down below 50 now ?
The Market Indicators thread
- Thread starter treefrog
- Start date
The B% is very sensitive and some would say leading indicator
of sentiment
80% for the XFK is probably at thrill level ( thrilled that it was not the end of the financial world )
Stocks started to go UP money flowed back into the sector
and sentiment ( as objectively ) measured SOARED
so at 80% it is time to be cautious
at 80% almost everyone ( including the extreme laggards )
is thinking of THE BOTTOM..
So caution is warranted
If stocks want to react back and find support... LET THEM
Look at AMP...
People would be thrilled
It has stopped going down
and started to go up
demand and supply
The B% is not the index
but the sentiment at the level of the individual components
sentiment turns way before the index makes any sort of highs..
The B% leads ( remember the divergence at the top )
It is saying be careful ATM
stocks found support ( no more margin loan problems ? )
But are now above that support
so ?
motorway
of sentiment
80% for the XFK is probably at thrill level ( thrilled that it was not the end of the financial world )
Stocks started to go UP money flowed back into the sector
and sentiment ( as objectively ) measured SOARED
so at 80% it is time to be cautious
at 80% almost everyone ( including the extreme laggards )
is thinking of THE BOTTOM..
So caution is warranted
If stocks want to react back and find support... LET THEM
Look at AMP...
People would be thrilled
It has stopped going down
and started to go up
demand and supply
The B% is not the index
but the sentiment at the level of the individual components
sentiment turns way before the index makes any sort of highs..
The B% leads ( remember the divergence at the top )
It is saying be careful ATM
stocks found support ( no more margin loan problems ? )
But are now above that support
so ?
motorway
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Timmy
white swans need love too
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Hi josjes - a little while ago Wayne started a thread "Deconstructing Indicators", or something like that. I thought that thread should be one of the top ten threads ever as in order to understand what an indicator is telling you really need to, well... understand what the indicator means...
So, for example, an RSI is NOT telling you to buy when its oversold or sell when it overbought or buy when it crosses above 70 or sell when it crosses below 30 .... all the RSI indicator is telling you is a fairly simple characterisitic of the price movement over the past "X" periods ... Wayne was saying (amongst other things) in his deconstruction thread to look very closely at the equations the indicator employs and from these you could see exactly what the moveoment in the indicator means.
I use the RSI just as an example ... the indicator in question here is the %B indicator. Earlier posts in this thread show exactly how this is constructed and it is well worth studying these posts closely to gain an intimate understanding of the indicator, if you plan to use it. Only by understanding exactly what the %B is showing does it become clear ... what it is actually showing.
I hope this helps. And can I add thanks to Treefrog for starting this great thread.
Whiskers
It's a small world
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Yes I agree.
I think the term I used was having a little spell, before pushing on.
Good to see confirmation from different methods.
Hello josjes..
I have just installed a major upgraded version
of the Updata Software ..
It is really an impressive
improvement.
faster , more powerful scanning ,stability etc
However a few teething problems
that are effecting data linking and particularly
Breadth like B% charts
So hope to soon be able to update the thread
XAO is moving up through a zone where there was little volume on the way down....This explains the absence of any definitive jump up
But a tentative probing ( like walking on thin ice ) with rotation between
the financials and the materials flip flopping
There are springboards above and below this point...
The volume activity distribution histogram is one of the new toys .
B% was very strong
and should be even stronger
B% would suggest there is support under the price activity
( The ice is not so thin )
DYOR
motorway
I have just installed a major upgraded version
of the Updata Software ..
It is really an impressive
improvement.
faster , more powerful scanning ,stability etc
However a few teething problems
that are effecting data linking and particularly
Breadth like B% charts
So hope to soon be able to update the thread
XAO is moving up through a zone where there was little volume on the way down....This explains the absence of any definitive jump up
But a tentative probing ( like walking on thin ice ) with rotation between
the financials and the materials flip flopping
There are springboards above and below this point...
The volume activity distribution histogram is one of the new toys .
B% was very strong
and should be even stronger
B% would suggest there is support under the price activity
( The ice is not so thin )
DYOR
motorway
Attachments
Thanks Motorway.
B% and P&F divergence, which is not healthy. Market is going up but B% is moving lower.
It's quite simple really, only OIL, Coals, Materials,GOLD that are moving this market, the rest are mostly DOG.
We have hit the target for the bear market bounce (the blue line), from here on down towards 5600 ??
What say you ?
B% and P&F divergence, which is not healthy. Market is going up but B% is moving lower.
It's quite simple really, only OIL, Coals, Materials,GOLD that are moving this market, the rest are mostly DOG.
We have hit the target for the bear market bounce (the blue line), from here on down towards 5600 ??
What say you ?
It is all about
the harmony or lack between
the various attributes
of Price , Volume & Time...
harmony = some sort of continuation
inharmonious( wyckoff ) = some sort of possible turning point
Index has pulled back to halfway zone
Price bars are congested and today's bar is narrow
and with a close if not at the middle. off the bottom..
There was an increase of volume today ( not shown )
B% has slipped lower ( into bear confirmed ) BUT not from a high risk level
(~70% )
Price is moving DOWN but with not much "ease of movement"
Look at the % of highs to new Highs and lows index !
See the goodish bounce from yesterday ?
Early Strength ?
( Market in fact tried to go up from the 28th )
Springboard ?
Only if it happens
I see some support here ..
But
Support is not any line drawn from the past
It is something met (or not)
and always up ahead...
DYOR
For Discussion
motorway
the harmony or lack between
the various attributes
of Price , Volume & Time...
harmony = some sort of continuation
inharmonious( wyckoff ) = some sort of possible turning point
Index has pulled back to halfway zone
Price bars are congested and today's bar is narrow
and with a close if not at the middle. off the bottom..
There was an increase of volume today ( not shown )
B% has slipped lower ( into bear confirmed ) BUT not from a high risk level
(~70% )
Price is moving DOWN but with not much "ease of movement"
Look at the % of highs to new Highs and lows index !
See the goodish bounce from yesterday ?
Early Strength ?
( Market in fact tried to go up from the 28th )
Springboard ?
Only if it happens
I see some support here ..
But
Support is not any line drawn from the past
It is something met (or not)
and always up ahead...
DYOR
For Discussion
motorway
Attachments
Not sure if anyone has posted this link before, but came upon this link
http://208.149.108.72/cgi-bin/foxweb.exe/fwuniv?email=&lesson=3&doc=index3_2.html
through a page that I went to from elitetraders
http://elitetrader.com/vb/showthread.php?threadid=122236&perpage=6&pagenumber=148
If you want to find out more about PnF charting, it is worth a look. The thread (about 150pages+) on elitetrader is all point and figure charts.
Tim
http://208.149.108.72/cgi-bin/foxweb.exe/fwuniv?email=&lesson=3&doc=index3_2.html
through a page that I went to from elitetraders
http://elitetrader.com/vb/showthread.php?threadid=122236&perpage=6&pagenumber=148
If you want to find out more about PnF charting, it is worth a look. The thread (about 150pages+) on elitetrader is all point and figure charts.
Tim
A couple of updates
B% is in a column of Os
That column is lower then the last column of Os
BUT
The "Position" is now in the green zone
There is a folktale character ( name ? )
who was always happy walking uphill
but became full of despair when walking down.
( because he Knew what would soon lay up ahead
)cycles
Posted a longer term chart
with some comparisons
That are suggestive of some possibilities ( like everything there are two sides
)Something to consider at different points in the cycle
is that we could
expect to experience changes in the behavior and outcome of
various accepted setups and methods
What was tried and true etc
Think of how
breakout patterns
( eg descending triangles )
Relative strength ( eg perseverance or reversal )
Volume patterns
etc
All could be different with B% above 70 or below 30
and depending also on what degree or leg of a larger cycle
the particular reading resides ( eg third of a bottoming cycle ?)
The two sides ( bearish and bullish ) relate to How close together these "bottoms" are occurring.
tIme vs Work ( is there enough )
eg (one) Thing to look out for
are Higher LOWS and inharmonious action..
For Discussion
motorway
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rub92me
Don't look back
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Motorway, or anyone else: What are some good books on getting a good understanding of how to read P&F charts? I've had a bit of a look around and see some websites with the basics explained, but would like to dig a bit deeper. I'm seeing mixed reviews for the Jeremy du Plessis and Thomas Dorsey books.
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Du Plessis is the authority on PF charting. I have the book which is not cheap but it is good. Some myths dispelled in good books.
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