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I have been impressed by your article about Norman Hallet e-book .
I have dowload and starting to stydy his clever guide.
However, following the text of the article above; would you be able for making a recomendation for an Stock Market Charting Demo?
The only ones that are hundreds in the market are for FOREX.
Is there any one for Gold, Commodities and Stock Exchange?
Your recomendations must be good for sure.
Thanks in advance
I have used the triangles to a high degree of sucess,but, when they show -75 and the stock goes up 2-3 days in a row what am i missing?
Fred,
The score total of -75 can be created by the following two scenarios...
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The first... Last day close below the below the 20 day moving average, new 3 week low, new 2 month low, yet the last hour close is above the 5 hour moving average and a new 3 day high.
I would bet this is the scenario you saw when you looked at the -75 score. This means that the long term direction is pointing down, however there is intraday and short term strength. The odds are still with the long term direction of down. However, you want to watch this market as a new daily high could turn into a daily close above the 20 day moving average, a new 3 week high...etc.
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The second... It would be unlikely that this was the scenario of the stock you were looking at as it happens rarely and it would be not gaining in price in a quick fashion. In this set-up you have an hourly close below the 5 hour moving average, a new daily lows, daily close below the 20 day moving average and a monthly low, however it is making new weekly high. This may occur if the price shoots up above the 3 week high, but below the 3 month high and then it dips in price.
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Here is our Help Section description of a -75 score:
-75 : This market may be looking at some near-term rallying power. This market is still in a long-term downward trend with intermediate and longer-term trends pointing lower, but short-term and intraday-term pointing to a bull market. Keep tight money management stops.
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You can view a list of description by clicking this link:
http://club.ino.com:80/trading/marketclub-help-section/chart-analysis-score/what-do-all-of-the-chart-analysis-scores-mean-100-85-etc/?bloghelpresponse
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If you have any additional questions please consult our support team at 1-800-538-7424 or by emailing su*****@in*.com.
Best,
Lindsay Thompson
Director of New Business Development
INO.com & MarketClub
I also enjoy market club, great ideas and honorable people. As for blogs in the roll though, none beats Psychology of the Call.