Hey, Just wondering what you guys can recommend as a reliable source for determining if the day is going to end higher or lower then the open. Im not looking for the holy grail here. Just wondering if someone could mention a solid indicator that helps give a good guess as too which way. What Im mainly looking to avoid are days where the market trends hard the opposite way Im wanting it too. With no bounces or variance. Thanks so much!
Look for VIX. If it's negative that market is in uptrend. If it's positive it should be trending down. But again beware that it may change direction in the middle of the day.
Flipping a coin is pretty good ! Seriously, you are looking for the holly Grail , which would be the answer to that question. I am always an agnostic, on a daily basis. What matters is that you control your losses and profits. Also, you might want to study/test how some stocks or indexes reacted, in the past (and in the past is the key word here). If you find a good pattern, you might want to trade it, but again, with strong money management rules.
BigCharts http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=VIX&sid=&o_symb=VIX&freq=9&time=1
============= Nellspot/trend spot re; #72 The nunber 72 helps a lot, but not a prediction; like work on it about 72 hours a week for years. Wisdom is profitable to direct; probably will not short GOOG ,oil gas sector again for some time now.[swing trade] . In particular study trends like; long the strong, short the weak. Several indicators[several can help] may help like CCI.......
Actually, that's a reasonable question and there is such a source. I use it myself and can absoulutly attest that it ain't BS. Send me a PM nellspot and I'll let you know who I use. ...Rennick out