The Daily Market Forecast... A Different View

Thursday’s Results: Buying 3875.50 ran for 40.75 points. Shorting 3950.00 offered 7.50 points.

Quick Tip: A Different View    

In technical trading there are only a few variables to consider: price, volume, and time. Every technical indicator or method is derived from variations of these variables.

Most traders look at volume within a time interval. Your chart will display a histogram at the bottom showing the varying volumes traded. Good to know.

A different view would be the volume on the price axis of the chart. Now you see the volume at specific prices. Much better to know.

Why? Large lot traders approach buying and selling different than small lot traders. When we want to buy or sell we click a mouse and it’s done. Our position size is small.

Large lot traders can’t do that. They need to accumulate and distribute their positions in their chosen price ranges. Why would you NOT want to know where the value price is in the eyes of the traders moving the market? Volume at price is one of the variables we use to determine the turning points.

Today’s Best S&P Turning Points (be patient).

Sell 4114.00 stop 4119.75.

Buy 3827.25 stop 3823.50.

Trade Fearlessly,

Mike Siewruk

P.S. What’s more important in trading? Math or emotions? Learn how to change your unwanted behavior here.