Trading The SPI - NON-Gann Techniques

[Edwood]

just had a look at the ratio Kauri, 3.04, so I guess all that had to happen was to turn it & let the short covering do the rest!

 

[Kauri]

so that was value & not quantity traded? what were the quantity ratios like?

Sorry, been out at the shops... 1300pm...

 

[Kauri]

and at 1400pm...

 

[Kauri]

so that was value & not quantity traded? what were the quantity ratios like?

So I guess that the importaant data to look at is the top section of Turnover, as even though the dollar amount of calls vs puts was 3;1, the total number of trades was still in favour of Puts!!!!
A bit like vol on some FX platforms where if you put on a trade of $1,000,000 and I do one for $1000 they both count equally as a single trade in the trade totals column, no account of $value is included. So the section with the Top 10 Trades possibly doesn't mean much. This is all assumption....

 

[nat]

Gap of 42 points ,will it get filled today or on to much of a roll upwards?Nathan

 

[professor_frink]

Gap of 42 points ,will it get filled today or on to much of a roll upwards?Nathan

Hi Nat,

This morning was a good example of using the spread between the cash and futures market, combined with a bit of S/R to play the opening gap. First chart below is a 4 hour chart day + night session, to look for the S/R areas.
2nd chart is the 5 minute chart showing the S/R areas, the close of the cash market yesterday, and with the spread between the cash and futures plotted below it. Futures rallied after the cash close yesterday, the opening gap pushed the spread out quite a bit, and we were sitting at resistance. Good Gap fade set up as far as I'm concerned

So far the gap looks like it should be covered

 

[nat]

ok then thanks for that ,i noticed on the 1 hour chart price was banging its head on the 200 ema and big divergence on the 1 hour macd as well for what its worth .

Is that amnibroker charting that you have up there professor ?Am thinking might get it one day when i have the time to work it out bit busy at moment doing other things,i like how you have that spread chart and the idea of auto pivot points be good ,NAthan

 

[professor_frink]

ok then thanks for that ,i noticed on the 1 hour chart price was banging its head on the 200 ema and big divergence on the 1 hour macd as well for what its worth .

Is that amnibroker charting that you have up there professor ?Am thinking might get it one day when i have the time to work it out bit busy at moment doing other things,i like how you have that spread chart and the idea of auto pivot points be good ,NAthan

yes sir it is. It makes everything quite handy,once you have all the crap you want to plot coded, that is!

We've rallied this morning after getting to within 3 pts of covering the gap, which would have made finding an exit a little tricky

 

[Bronte]

A very interesting chart:

 

[Bronte]

Big number 6050 Record High
Monday we saw a 5614 Low
Todays 5832/3 is a 50% Retracement.
Going into "Happy Half Hour'........

 

[nat]

Huge vol going through today so far,somethings going to happen either way maybe,is there something im missing that such vol is going through?,21780 so far today on the day contract,Nathan

 

[Bronte]

Hi Nathan,
The SPI200 March Contract Expiry Date is approaching:
15th March 2007 (usually at noon)

 

[Edwood]

v. frustrating action too - very choppy - I would have thought that when its consolidating / range-bound like this you'd see a decline in volume. not sure I understand the significance of the expiry Bronte - could it be repositioning or hedging prior do you think?

 

[Bronte]

Big number 6050 Record High
Monday we saw a 5614 Low
Todays 5832/3 is a 50% Retracement.
Going into "Happy Half Hour'........

Hi Edwood,
SPI traders,etc exit their positions in the March contract,
and take up a position in the June 2007 contract.

Well it has all been downhill since the above post.
Now trading at a new day Low of 5774.

 

[Edwood]

Hi Edwood,
SPI traders,etc exit their positions in the March contract,
and take up a position in the June 2007 contract.

ah OK, thanks Bronte that makes sense

 

[Edwood]

Hi Edwood,
SPI traders,etc exit their positions in the March contract,
and take up a position in the June 2007 contract.

Well it has all been downhill since the above post.
Now trading at a new day Low of 5774.

nice fade off fib resistance - I guess given the out of hours action since then the traders were building longs, ie selling down the Mar contract, bringing down the Jun so they could get in cheaper then drive it up for expiry

 

[nat]

Morning who ever,just a question for anyone ,due to it nearly being expiry time on the spi contract there is all this big vol trade going through ,was just wondering how such numbers of contracts going through in a minute isnt really affecting the chart that much and who is the order getting matched to ?Nathan

 

[Edwood]

Morning who ever,just a question for anyone ,due to it nearly being expiry time on the spi contract there is all this big vol trade going through ,was just wondering how such numbers of contracts going through in a minute isnt really affecting the chart that much and who is the order getting matched to ?Nathan

hi Nat, Bronte summarised it really, with Mar expiry approaching the holders of Mar contracts are switching into Jun contracts to keep their exposure. my guess is if theres lots of volume but not a lot of price movement they must just be switching directly so no major change in stance

 

[nat]

ok fair enough ,makes chart reading a little bit more difficult ,i think maybe best to stay out of market in couple of weeks leading up to the expiry.NAthan

 

[professor_frink]

morning folks,

updated chart with S/R levels on it below-

possible minor S/R level @ 5940-42 not marked on the chart- if that's broken, next area that could be tested is the 70-80 area. Hope everyone is making a killing off some of these moves