Wednesday 13 February 2008

Hilbert Sine Wave Down Turn?

Hilbert Sine Wave has turned down on the 135 minute time frame - my preferred time frame for Emini swing trading. Is it time for a cycle down move?

Emini Hilbert Sine Wave Image

Hilbert Sine Wave (Emini 135 minute)

Today was a very strange day on the Emini. The 1,340 level was tested during the overnight session and we made another run for the trend line break - as expected. The Emini broke above 1,365 but only made it as far as 1,370 before selling appeared.

What troubles me is that the TRIN indicator was very bullish, with an adjusted reading of +160, but both the volume and range were smaller than yesterday. Typically TRIN readings above +100 are large range, high volume up days - and that's what we need to break the down trend line convincingly.

All of this makes me think that we might not make the gap close at 1,378 and the 135 minute Hilbert Sine Wave down cycle will kick in. A break below 1,360 tomorrow would start to make this scenario more likely.

There are a couple of new Hilbert Sine Wave videos added here, if you're interested. Although the code is for sale I hope my readers also realize there's a lot of free code and trading information available on the site too. Good luck with your Emini trading.

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