Friday, March 19, 2010

DJIA short-term

Below is the 5 minute view of the DJIA.  Noteworthy is the Trend SELL signal, the impulsive nature of the decline (compare with previous decline on left side of chart) and the ABC correction over the past few bars.  If the low is taken out impulsively later on today, I expect longer-term Sell Signals on my longer-term models.  Subscribers should be watching their Key Reversal Levels.



DJIA 5 minute

5 comments:

Anonymous said...

Allan,
you might want to go ahead and post those BTIM charts you shared with the subscribers back on 03/17

Anonymous said...

Allan,
I am trading a leveraged ETF on daily signals that has reached reversal points on the 60and 240 minute timeframes. Any thoughts on closing the position to avoid further slippage? Thanks

Allan said...

"Reaching reversal points" is not the equivalent of triggering reversal points. Wait for the bar you are following, i.e. 60, 240, Daily, Weekly, to close and then take appropriate action (or inaction).

Anonymous said...

MIKE on VIX

Lucky

Anonymous said...

Thanks. I understand.