SPX & RUT rolling 30 day confirmed on the negative side, along with strong negative 5 day rolling. Looking pretty bearish, although VIX hasn't confirmed yet. Usually when you get them all confirming at the same time you can expect a very large downside move in my experience.
When everyone thinks it heading down, that is when we need to look for an A up setup to trade. I will look for the the market to open below the pivot. If it makes a good A up my guess is all the shorts will be caught and it will then rip thru the pivot for a nice day trade. If it makes a boring A down, then maybe a short.
All indices have confirmed for me, although VIX is still holding out. Either the real fun hasn't even started yet or this is setting up to be a massive reversal at the Yearly A down. My Yearly A down level is 2436.5, we'll see where this market takes us...
Hello all, This question might be off topic a bit but does anyone know how to assign a numerical value to a condition in thinkscript for TOS? I'm trying to create a script to calculate the number lines but I can not for the life of me figure it out. I have limited experience using thinkscript. I can essentially set the conditions such as if there is a close inside the OR but I don't know and am having trouble finding out how to assign a value of 0 to that condition. From there I might be able to figure out the rest. Thanks in advance for any help given.
I currently do most of my analysis via python, but my number line function runs through all of the scenarios that do not return 0, and if it doesn't meet any of those conditions then I have an ELSE statement at the end of the function: 'ELSE NL = 0' Not sure if that helps
Today's low failed five handles above my Yearly A down in /ES (2436.5), and the number lines are still getting more bearish. VIX 30 day is now in positive territory and firming up with the 5 day already far into positive territory. Some might expect a relief rally tomorrow, but price action seems to be pointing toward another down day likely to test today's low.
Crude is completely neutral on all my indicators and my MACRO is -3. anyone seeing anything different?
I'm seeing oil neutral as well, with the 30 Day at -6 for me. Coincidentally my ES 30 day is also at -10, with my 5 day rolling at +6.
CL had made an A up 3 days in a row taking the 30D Macro to -1. 14D moving average is sloping up while the others are neutral to down. I feel a change in direction coming...