charts

  The Eurostoxx50 hit the yearly vwap today, here's what happened:



i'm looking for a drop to the monthly vwap 3679 over the next 2 days.

Posted by sputnik

  As a daytrader i don't care much about daily charts and whether we are in a bull or bear market. i want volatility and a strong bias is not very useful for me in my trading. But last week i was asked if the stuff i'm using would work on longer timeframes too, so i gave it a try. I loaded 10 years of daily data for the S&P e-mini and played with my vwap :



To my surprise, it looked very good and heres what i found. Using an "eternal" vwap we get very nice "2. chance" signals. A double top against the vwap in early 2001 would get you short, and just recently a double bottom at the still rising vwap. So to me this looks like start of the next leg up in a bull market - hows that for a different opinion ? That said, i will most likely look for a short on monday - i'm still a daytrader

Have a nice weekend !

Posted by sputnik

 

Posted by sputnik

  Did i tell you about the 2. chance setup ?

Posted by sputnik

  The stoxx50 rallied from a tripple bottom, made a higher high, retraced to a higher low at the weekly VWAP and continued the upmove form there. Today it gapped up and i think we will retest the monthly VWAP (3671 for now) today. Support is at 3614 which is yesterdays VWAP close and i'll try to get long if we get down there. Good trading,

Posted by sputnik