JTH

Stuck in the middle with you

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11th trading day of March
SPX, 55% winning ratio with -.02% average returns
R2K, 60% winning ratio with -.02% average returns
AGG, 64% winning ratio with .03% average returns

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April 9th
SPX, 57% winning ratio with .21% average returns
R2K, 64% winning ratio with .56% average returns
AGG, 71% winning ratio with .07% average returns


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Thursday
SPX, 55% winning ratio with .36% average returns
R2K, 73% winning ratio with .59% average returns
AGG, 36% winning ratio with .03% average returns


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AGG, Daily
Riding alongside the 7-month price channel, and approaching a major double top with declining volume


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SPX, Daily
Riding along the 6-month dashed-yellow trendline, in the upper half of the parallel price channel, and trading at the top of the 9-day range


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W4500, Daily
King index is holding up well, less than 1% from breaching new 52-week highs and not range-bound like many of the other indexes


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Transports, Daily
Notice we bounced off a 50% retrace of the 6-month quadrant lines, and failed to confirm a close below the December low 3-4 trendline


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NASDAQ 100, Daily
Similar to SPX, riding along the 6-month pink trendline, and trading at the top of the 9-day range


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In the previous blog I alluded to the fact we're playing the "trading range" game where buyers & sellers are duking it out, yet neither is committed to sticking it out. I'm in the same game, attempting to play both sides of the coin, and thus far the only thing I've gained is the knowledge that I'm having a difficult time trading intraday when I can't sit and be glued to the markets. The price swings have been awesome & enjoyable, but you have to be nimble to get those good entry/exits.

For the TSPer's I'll say this. I think the SPX 2045-2089 9-day price range are the key levels to watch, and the same holds true for the NASDAQ 100 at 4281-4384. Essentially it comes down to Small Caps lead, Transports lag, while the S&P 500 and NASDAQ 100 are stuck in the middle.

Take care…Jason