Per Diem: 5 Mar 2015
by
, 03-04-2015 at 08:15 PM (1629 Views)
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4th trading of March
- SPX, 50% winning ratio with -.31% average returns
- R2K, 50% winning ratio with -.28% average returns
- AGG, 55% winning ratio with .04% average returns
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Thursdays are the best day of the week
- SPX, 73% winning ratio with .75% average returns (last 2 closed down)
- R2K, 82% winning ratio with .80% average returns
- AGG, 27% winning ratio with -.06% average returns (last 2 closed down)
The price action has been very tight, if you've been reading my blogs this week, then you've seen the indexes deteriorate on a minuet scale.
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AGG, 30-min
- Failed to recapture 50% of the BC wave
- Micro Bear Flag suggest a test of the 110.15 bottom at B
- Still looking for a measured move down off wave 1-2 which test the 110.15 bottom at B
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SPX, 30-min
- Previously mentioned 2103 support is now resistance
- While under 2103, I'll be looking for a test of the 2-4 trendline
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W4500, 30-min
- Although we managed to close at 1095, it's still dicey, we need a solid close back above 1094
- The 1088 low was tested today with a low of 1089.81 (a breach below this level may rapidly execute sell orders)
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Transports, 30-min
- Watch the red descending parallel price channel
- Trading below 75% of wave AB (the other indexes are stronger)
- Trendlines 5-6, 3-4, & 1-2 have all been breached and the retest of 1-2 failed
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NASDAQ 100, 30-min
- Watching for a test of trendline 1-2
- Prices rolling over (watch the leader)
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For myself, I have no dog in this fight, I've side-stepped into the G-Fund and will re-evaluate the price action as it unfolds.
Trade what you see, not what you read…Jason