Monday 14 April 2008

Put Call Ratio Oscillator Yet To Turn

Very quiet trading day today. The Emini closed down 4.50 points at 1,331.00 on relatively light volume of 1.5 million contracts. In fact this was a high churn day - with very small range of only 10 points compared to the volume traded.

We could be seeing some early buying but my swing trading oscillators are yet to turn up. Remember these oscillators are non-correlated - all based on different measures of market strength (market breadth, option volume and professional buying).

Emini Oscillators Image

Swing Trading Oscillators (Emini daily)

All 3 oscillators are over-sold. The TRIN is at -72, the Put Call Ratio at -75 and the Smart Money is at -322! The Hilbert Sine Wave on a daily chart is also a day or two away from making a cyclical low turn.

I'm still holding my short position from 1,379 based on a Better TRIN system and waiting for the Better TRIN Oscillator to turn up.

Emini-Watch Contest

A HUGE thank you to EVERYONE that entered the contest. I am lucky to have some great subscribers, with great ideas and valuable insights into trading.

There were 37 contest entries - and the winner is Evan W. who will be receiving the Roy Kelly book shortly. A special thanks to David B. for a great runners up entry too.

I'll be working on the new product over the next few months. I don't want to give too much away but it involves building a more complete trading methodology that will be delivered through a combination of eBook, online video and daily trade reviews.

Thank you again and good luck with your Emini trading.