| 1rstEasytrader |
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Gold User, Member, TeleChart
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| Sunday, October 14, 2007 |
| Thursday, March 24, 2011 4:13:03 AM |
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I want to make a break-out pcf that is only valid for 5 days from the first signal,
C > MAXC21.1, this is a donchian breakout, however, in a trending market this will be true every day, how do I filter it out so it only remains true for the first five days from the initial signal.
Thanks
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Years ago in another life I used to be a Commodities broker. One of the fun things to do then was day trade the NYSE based of the action of the bonds. It worked pretty well or at least it seemed to. Any how, I used that knowledge to keep from getting totally clobered when the maket topped in October.
How do you say?
Well as stock guys just take a look at the ETFs TIP, TLT, IEF. They all started to rally before the market top. The theory is scared money hides in treasuries. So these ETFs all bottomed before the DOW topped.
Now look at the charts again, do they appear to be topping?
Well I would say yes, where does courageous money go ?
Equities.
It's not perfect, but I would say the bottom is probly in since the S&P and DOW are trying to push up while treasury ETFs are pushing down.
At the very least if you are long Treasuries take some off the table and tighten your stop-losses!
Sustained weakness in these ETFs will show the bottom in Equities.
PS - When I was a Commodities Broker we watched the 10yr Note and 30Bond. To find NYSE tops and bottoms.
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