When you see the 1 and 5-min INDU Macci staying OB you have a good indication that the market is strong. It was OB in 60-min and 30 min too and these made no diference.
Hi Glenn,
how many time frames do you keep an eye on while day trading?
cheers
Glen
$INDU 1-5-10 as Grey1 recommends. Anything higher is unlikely to be much use intraday becuase they are much slower to turn.
Overall have $INDU 1-min up to Monthly, but obviously not watching all those all the time. The longer timeframes can be helpful at OB/OS extremes though, e.g. Daily for swing portfolio as you know.
Glenn
Following on from what Glenn said (the other Glenn) yesterday
will it be tech or not today, if you can not make this call correctly are you toast?
my take for today is as follows;
CNBC = no big news, still taking about BS news from yesterday
INDU = up about 400points last two day may consolidate today, INDU day macci heading o/b
Futures = up a bit pre market
FTSE etc = very strong
tech or non tech day who knows???????????//
I think it would be brave to go short early with strenght in FTSE, Longs only me thinks
Glen
Consumer confidence figures at 10:00 US EST. These sometimes stir things up a bit.
On the topic of highly trending days, I have read somewhere that these days are freqently characterised by unusually high volume on the ES in the first half hour or so after the open. I can't remember the statistics and I hesitate to post this at all and complicate matters. Analysis paralysis can be a nasty affliction, as I well know.
Economic calendar | financial calendar | Forex economic calendar
There may be better ones available, but this seems to catch most significant releases.
tech or non tech day who knows???????????//
Glen
If you don't 'know' then don't trade until you do.
Having no position is still a position.
Glenn
what do you think Glenn,
technical or non technical (what's at the top of your page?)
cheers
Glen