Per Diem: 5 Mar 2015

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4th trading of March

• SPX, 50% winning ratio with -.31% average returns
  
• R2K, 50% winning ratio with -.28% average returns
• AGG, 55% winning ratio with .04% average returns

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Thursdays are the best day of the week

• SPX, 73% winning ratio with .75% average returns (last 2 closed down)
  
• R2K, 82% winning ratio with .80% average returns
• AGG, 27% winning ratio with -.06% average returns (last 2 closed down)

The price action has been very tight, if you've been reading my blogs this week, then you've seen the indexes deteriorate on a minuet scale.


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AGG, 30-min

• Failed to recapture 50% of the BC wave
  
• Micro Bear Flag suggest a test of the 110.15 bottom at B
• Still looking for a measured move down off wave 1-2 which test the 110.15 bottom at B

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SPX, 30-min

• Previously mentioned 2103 support is now resistance
  
• While under 2103, I'll be looking for a test of the 2-4 trendline

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W4500, 30-min

• Although we managed to close at 1095, it's still dicey, we need a solid close back above 1094
  
• The 1088 low was tested today with a low of 1089.81 (a breach below this level may rapidly execute sell orders)

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Transports, 30-min

• Watch the red descending parallel price channel
  
• Trading below 75% of wave AB (the other indexes are stronger)
• Trendlines 5-6, 3-4, & 1-2 have all been breached and the retest of 1-2 failed

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NASDAQ 100, 30-min

• Watching for a test of trendline 1-2
  
• Prices rolling over (watch the leader)
  

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For myself, I have no dog in this fight, I've side-stepped into the G-Fund and will re-evaluate the price action as it unfolds.


Trade what you see, not what you read…Jason

 

[MrJohnRoss]

Would love to see point C on your $NDX chart come to fruition.

 

[JTH]

Would love to see point C on your $NDX chart come to fruition.

Agreed, but only if we're in the G/F fund