ES S&P

  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 ES dropped below it's monthly VWAP, 1369 pre-market. Strong support lining up at 1359, resistance at 1374 and 1379. 1359 is last weeks VWAP close and which was my target on friday, but the market showed no mercy on the shorts last week. 1369 is now the line in the sand for me.



And here's the Eurostoxx50 today, nice catch on the low for the enthios universal method.

Posted by sputnik

  This first week of the month is very interesting. The ES bounce from resistance (1376 as posted yesterday) to the monthly VWAP 1362.50 (low of day) and then back up to the daily VWAP. The weekly VWAP however is still way below at 1351. I still think we will retest that level totday or tomorrow.

Big picture:


Yesterdays action, monthly back to daily VWAP:

Posted by sputnik