Mapping the Market with Trade Prospector

June 16, 2005

Baby steps continue

by Chief Technical Analyst, Third Millennium Technologies, Inc. (http://www.trade-prospector.com)

Recommended Websites: 

The major indices finished today as:

Charts, including a realtime S&P futures buy/sell signal chart example, are presented below.

Note: Trade Prospector's S&P futures realtime chart 5 minute is shown below - the chart is an example of the signal generation features in TP/realtime.  The 5 minute chart was long from Wednesday's 1:10pm buy signal @ 1206.50 which hit a high of +7 with remaining positions signaled exited this morning at +5.75 and reversed short.  Choppy price action through whipsawed signals for -2.75, -0.75, and -0.25.  The 1:20pm buy signal @ 1214.50 got to +3 so far.

More baby stepping higher on the Dow and SPX.  The NDX at least followed along for minor grins.

We achieved the projected new interim low right in the middle of the projected time window and at the price levels targeted.  Here's where the lows came in - 10,000/DJIA vs. 10,000-10,150/DJIA target, 1136/SPX vs. 1140-1156/SPX target, and 1394/NDX vs. 1410-1420/NDX.

We hit an initial interim high a while ago but are now retesting and actually extending it into the originally preferred target zones - hitting 10586/DJIA (10594/YM), 1209/SPX (1210/ES), 1560/NDX (1562/NQ) vs. the originally stated preferred minimum price areas of at least 10550-10625/DJIA/YM, 1470-1490/NDX (1500/NQ), and 1185-1190/SPX (1193-1195/ES).

Volume - 1.78 billion vs. 1.84 billion on the NYSE and 1.87 billion vs. 1.74 billion on the Nasdaq.

Currencies - dollars whipsawed around ending mostly flat

Gold - gold buyers were encouraged by uncertainty in the dollar and speculators bid up contracts to the 437.50 initial resistance area - support @ 422 area and initial target resistance around 437.50 (next target resistance @ 445)

Oil - crude contracts were also bid up - just through the 56.25 resistance area - target support $50/CLN (secondary @ 46.875) and initial resistance about $56.25/CLN (major resistance about $59)

Treasuries -  treasuries continued hugging the 112'160 geometric support

VIX/VXN - the VIX continues tracking lower but is starting to stabilize near early May levels

In the news - 

Here's how the TP realtime sector action map ended the day.

Here's an updated perspective chart on the S&P that highlights the critical repeated support area prices are now near.  The breach of this area in 2002 heralded a sharp and substantial decline.  This is definitely a price area worth watching.

Updated - another longer term perspective chart for traders

Dollar vs. equity action.

The spread between the front month Nasdaq-100 and S&P500 futures contracts.

These three Gann Frame charts show the general progress of the DJIA, SPX, and NDX:

These three charts show the DJIA, SPX, and NDX with their respective Gann Square of 9 and Price/Time Squares:

For the stocks to watch list that we've included in previous market updates, check the new Recoil Pattern indicator found in the end of day TP.

Index swing trading bulletin traders ended today at:

Here's another example of a Trade Prospector realtime chart with automatic annotation of TP's projected support/resistance zones.  Also check the S&P futures buy/sell signal chart example further below.  To read the release notes for the realtime functionality released so far, see http://www.3mtinc.com/tprtreleasenotes.htm

Some people waste time and money trying to apply decades old, obsolete, simplistic formulas they've read in some book or are paying trading services as much as $300/month for less effective/less accurate trading projections than Trade Prospector users have everyday at their fingertips and automatically on their realtime charts.   Decide for yourself whether this kind of information (along with Trade Prospector's other unique features - such as summarized collective buy/sell signal generation) would help you trade better.

This is the NDX futures intraday chart - note the value of having the various projected support and resistance levels available to you on the screen.

For those interested in the buy/signal chart example (5 minute ES) we've been showing, here's tonight's S&P charts.  This is just an example of the type of signaling charts that can be constructed in TP Realtime and this particular example represents an evolving set of algorithms and parameters for traders to use with the new Trade Prospector Realtime software.  To read the release notes for the realtime functionality released so far, see http://www.3mtinc.com/tprtreleasenotes.htm

Good trading tomorrow.

The VIX and VXN charts.

VIX	VXN

VIX (geometric)

Here are the NYSE and Nasdaq Overbought/Oversold charts:

Here is the Put/Call Oscillator (20 day MA of CBOE put/call ratio):

DIA/SPY/QQQ Equivolume Range Bar Charts:

Here are the Gold, Oil, and Treasuries charts:

If you have any questions or comments, please direct them to support@trade-prospector.com.

Good trading.

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