I’ve been spending some time playing with TOS programming to create and customize my own indicators. 

A slick cloud effect should help to better visualize price direction, and a “Thrust Rating” of my own creation to qualify trends and surges.  I’m looking forward to using Thrust to better time my entries into these ridiculous morning surges, or the alternative: morning plunges with intraday major reversals.

The Thrust looks better on a closer-up chart, but the Houly shown above shows some interesting weakness in today’s action.  Accordingly, /ES is channeling down to support levels during Asian trading.  But after making that bad call Tuesday on 1568 being a near ceiling, I’ll hold my predictions for now.  Hey, the divergences were there!  But in The New Normal, the only thing that negative indicators seem to forewarn is that another major liquidity injection is looming.  Normally, I’d be looking forward to a juicy short opportunity below 1580, but this market constantly reminds us not to jump the gun on pattern setups.

Technicals are done, now is time for rant:

I hate it when the media reports that “Markets did this/that because of such and such news (or no news!)”.  News doesn’t matter, overall volume doesn’t matter; price matters.  To hell with the news, central banks, record highs, and your own opinions of the Market. This market WILL continue to go up on liquidity injections until something breaks!

Awesome commentary by David Rosenberg and Sam Zell:

http://video.cnbc.com/gallery/?play=1&video=3000160484

    You are unauthorized to view this page.

You Might Like

  • How to use Moving Averages for Swing Trading

  • Swing Trading Venezuela following the Maduro capture.

    When Geopolitics Hits the Wires: Lessons from Iran to Maduro

  • analyzing volume in your trade setups.

    Swing Trading Using Volume Analysis