I'm not a constantly buying on Bid and selling at Ask type of trader, but I do try to capture the short term interday swings. I'm still playing with and modifying the moving averages on the $TICK. The white line is the 38 period EMA of the $TICK pivot ((H+L+C)/3), and the blue line is the 2 period SMA of the $TICK pivot. I'm finding that waiting for the up and down turns of the blue line is helping me with timing, especially with getting in too early.
Notice how the Financial Sector (XLF) was stronger than the sum of the eight Sectors early in the morning giving us an upward correction in the futures. The market then reversed in the afternoon.
The afternoon weakness was confirmed by a reversal in the Staples / Discretionary ratio.
Charles
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