Saturday, November 3, 2007

Commented chart (audio soundtrack)

Here is a commented audio soundtrack (8m25s) to complement the Oct 21st SPY chart.

The audio/AVI file (~24MB) and can be downloaded here.
The audio/MP3 file (~8MB) can be downloaded here.
The purpose is to teach traders how simple it can be to read charts using this TradeStation technique. The purpose of the commented charts published on Market Snapshot is to develop a 3 to 5 bar outlook, mostly at daily level. One therefore tries to estimate where the market is going about 1 week ahead. Since this was done on Oct 21st, I here also include the chart dates Oct 24th, which confirms the retracement scenario (it was admittedly easy).

Please note that these indicators can be used unchanged on various symbols and time frames. The technique was designed to remain as simple as possible so that decision making remains quick and as unambiguous as possible. It must also be noted that all indicators feed an API allowing developers to build their own rule set to contribute to even easier decision making.