Tag Archives: CFG

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Measuring Time Frames with the Triple Play Charts

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Monthly11-1-2015 3-12-04 PM TP Monthly

Starting with the longest time frame, the monthly candles are impressive.  All bullish engulfing patterns after working off the overbought RSI readings while remaining in solid bull ranges and checking back with the MA Bands.  Long term trend remains up with RSI & CFG turning up in bull ranges

Weekly11-1-2015 3-10-53 PM TP Weekly

The weekly level shows just how bad the $IWM has been lagging as it can’t get over the MA Bands and remains in an RSI bear range.  The SPY has moved back into the summer range, but hasn’t quite gotten the RSI back above 60 to resume its bull range.   Interestingly, $QQQ actually had the most dramatic drop, but never actually shifted to an RSI bear range and closed back over 60 this week.  $SPY $IWM still work to do before moving back to bull ranges while $QQQ never left.

Daily10-30-2015 4-06-28 PM TP Daily

On the Daily view it is clear $QQQ has led by the chart as well as its RSI has moved up the fasted.  Both $SPY and $QQQ also hit the Nitrous last week.  $IWM has not been able to break over 116 for weeks.  It got there on Wednesday, but couldn’t hold it yet.  this is not the end of the world with the other two performing so well, but the non-confirmation is one concern.  The $IWM not shifting to a RSI bull range is the big drag still on the daily level.

65 minute10-30-2015 4-09-48 PM TP 65min

This chart shows October broken down into 65 minute candles. This level still shows all three in RSI bull ranges giving a positive skew, but the $IWM continues to oscillate through bull and bear ranges as prices consolidates sideways.  So far neither side can take the baton and run with it in small caps.  $SPY $QQQ are both in solid RSI bull ranges currently testing 50 after the late week.   Fridays close did not look great and could lead to a test of the ranges as well as the MA Bands or we could get a reversal from here which would create some RSI Positive Reversals to consider.  Remember, this is the shortest time frame in this study, so it should also take the least precedence, but come Monday morning it will be where the process begins once again to build the next installment.

Good Luck and I hope this helps!

If you like what you see, follow me on StockTwits or Twitter.
(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
The information set forth here was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy.  Neither the information, nor any opinion expressed constitutes a solicitation by us of the purchase or sale of any securities or commodities. I or my affiliates may hold positions or other interests in securities mentioned in the blog.  Full Disclaimer
There is no guarantee that the views expressed in this communication will become reality,  Investing in the stock market involves risk and potential loss of principal, Investment strategies should be thoroughly researched and understood before implementing and none of this should be construed as a recommendation

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September 9, 2015 RS Movers

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Broad Equity ETF RS Gainers9-9-2015 Broad Equity ETF RS GainersBroad Equity ETF RS Gainers on FINVIZ

Broad Equity ETF RS Losers9-9-2015 Broad Equity ETF RS LosersBroad Equity ETF RS Losers on FINVIZ

Sector ETF RS Gainers9-9-2015 Sector ETF RS GainersSector ETF RS Gainers on FINVIZ

Sector ETF RS Losers9-9-2015 Sector ETF RS LosersSector ETF RS Losers on FINVIZ

GT500 RS Gainers9-9-2015 GT500 RS GainersGT500 RS Gainers on FINVIZ

GT500 RS Losers9-9-2015 GT500 RS LosersGT500 RS Losers on FINVIZ

There are many valuable ways to look at Relative Strength; some of my favorites are patterns of strength and weakness, and big RS movers over short periods.  The movers list also gives clues of rotation through large point moves and clustering.  This is just a starting place for your research, so get to it!

*I specifically decided not to filter out low volume ETFs, because I believe they can add valuable information even if not liquid enough to trade.

The explanation of my methodology is here

If you like what you see, follow me on StockTwits or Twitter.
(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
The information set forth here was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy.  Neither the information, nor any opinion expressed constitutes a solicitation by us of the purchase or sale of any securities or commodities. I or my affiliates may hold positions or other interests in securities mentioned in the blog.  Full Disclaimer
There is no guarantee that the views expressed in this communication will become reality,  Investing in the stock market involves risk and potential loss of principal, Investment strategies should be thoroughly researched and understood before implementing and none of this should be construed as a recommendation

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Dissecting The Markets with the Triple Play

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At the end of May my post Pick Your Poison was about looking at different timeframes and realizing choosing a time frame to focus on can dictate how you view the markets. I also discussed it was an exercise I like to each month.  I find it especially helpful after months like July that shake things up a bit and give us some extra volatility.  It can help ground my views by stepping back and moving from the longer time frame step by step down to the short-term.  So, let’s take a look.  If you are not familiar with my RSI charts you might take a quick peak at this RSI chart explanation video

Monthly8-1-2015 7-01-37 AM TP Monthly

On the monthly chart we have a steep trend in all 3 major ETFs we follow as they are well above the riding MA bands.  $IWM is least extended coming off the breakout from the flag that was 2014.  the July $IWM candle is a bearish engulfing pattern to watch in August, but using the blended candle approach with the last two months would give you a doji which goes well with the indecision we have seen so far this summer.  $SPY $QQQ had both been moving consistently higher until the last couple of months where they began to see more volatility creep in.  All three are still in strong RSI bull ranges.  $IWM is the laggard, but $SPY & $QQQ both are sporting new RSI Positive Reversals after closing higher this month.  All have relatively neutral CFG readings.  The trends are still up and don’t look to be in much danger at the moment.

Weekly8-1-2015 6-59-36 AM TP Weekly

The weekly level shows a little more of the volatity we have witnessed.  $IWM showing the most, $SPY looks more like a flag or box consolidation and the $QQQ aren’t showing any quit.  All three are coming off their MA Bands and in RSI bull ranges with none of the RSI or CFG overbought. Note how steady the trend in $QQQ has been while it has worked off the overbought readings of late 2013.  RSI works better as a trend indicator than moment if you learn to use it as such.  Weekly charts are consolidating but are still configured to favor higher prices.  no major damage to these charts yet.

Daily7-31-2015 9-31-26 PM TP Daily

It is in the Daily charts where we start to see the differentiation more. $IWM is currently the laggard and in a RSI bear range.  However, the $SPY and $QQQ both remain in bull ranges for now and the $SPY successfully held at the recent lows.  The volatility really starts to show up on this level showing the daily battle that was July.

65 minute7-31-2015 9-36-53 PM TP 65min

Drilling down to the 65min level we can actually see all of July’s trading activity 65 minutes at a time.  It was a bit of a roller coaster with the $IWM trajectory down while the $SPY $QQQ were more constructive.  $SPY was iffy for a while, but pulled it out in this last week. All three ended the month with RSI bull range shifts and trying to find support on now rising MA bands.  This is not a strong thrust so far so we need to keep an eye and see if RSIs can move above this week’s peaks for a more convincing range shift or will it fail and show we need more time to regroup before moving to and through the highs?  One good note here is CFGs are falling faster than RSI was on Friday which can be a positive.  More tentative shift back higher on this level;  Okay for now, but needs to build on it early next week to survive.

30minute8-1-2015 7-04-15 AM TP 30min

The 30 minute view shows all three are in RSI bull ranges, moving well off the lows. Friday ushered in a small pullback within the bull ranges.  The week closed with RSI pulling back within a bull range while CFG are getting oversold at or below zero and price is finding some support at the MA bands.  Until we lose the bull range the 30min level looks constructive and could be ready for another move out of the gate on Monday.

5 minute8-1-2015 7-05-22 AM TP 5min

As we get down to the very short-term, the 5 minute charts shows the Friday afternoon dropped blew through the bull ranges and are all now recovering back near the 50 level on RSI.  The trajectory is higher, but being in the bear range and below the MA bands we know a failure is very possible which could leave us with RSI Negative Reversals here showing this timeframe does need more time before it can shift back.  If a failure does happen and the RSI bear range holds it is certainly not the end of the world as this is a 5 minute view after all.  It could delay that move we talked about on the 30 minute for a while or outright negate it, but let’s get there first. The lower the time frame the more shifts we have and the less important they are unless that is the time frame you trade on.

As I said above after a month that can pull you in different directions and leave you a little uncertain, it can help to take a step back and drill down your time frames one by one and see what you can see which should allow us to better plan for the upcoming month.

Good Luck and I hope this helps!

If you like what you see, follow me on StockTwits or Twitter.
(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
The information set forth here was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy.  Neither the information, nor any opinion expressed constitutes a solicitation by us of the purchase or sale of any securities or commodities. I or my affiliates may hold positions or other interests in securities mentioned in the blog.  Full Disclaimer
There is no guarantee that the views expressed in this communication will become reality,  Investing in the stock market involves risk and potential loss of principal, Investment strategies should be thoroughly researched and understood before implementing and none of this should be construed as a recommendation

 


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