Comments on: S&P 500 Short Term – Starting New Uptrend http://midasmarketanalysis.com/2010/04/24/sp-500-short-term-starting-new-uptrend/ Tue, 04 Oct 2011 07:38:10 +0000 http://wordpress.org/?v=abc hourly 1 By: D Hawkins http://midasmarketanalysis.com/2010/04/24/sp-500-short-term-starting-new-uptrend/comment-page-1/#comment-57 D Hawkins Sun, 23 May 2010 23:01:37 +0000 http://midasmarketanalysis.com/?p=2361#comment-57 Dr. Kiele, I'm sorry to be so late responding to you. Thank you for your interest, and your comments. During the long bull market that lead up to the peak in 2000, I saw several examples where and S6 or even an S7 could be clearly identified, but this is unusual. Regarding VWAP and Midas, the two are not synonymous. VWAP was the relatively simple idea that preceded Midas. However, Midas S/R curves are not to be confused with VWAP price points. By definition, a Midas S/R curve is a fixed starting point moving average of the volume weighted price, and acts as a support/resistance curve, to be used in the same way that trendlines are used. Dr. Kiele, I’m sorry to be so late responding to you. Thank you for your interest, and your comments.

During the long bull market that lead up to the peak in 2000, I saw several examples where and S6 or even an S7 could be clearly identified, but this is unusual.

Regarding VWAP and Midas, the two are not synonymous. VWAP was the relatively simple idea that preceded Midas. However, Midas S/R curves are not to be confused with VWAP price points. By definition, a Midas S/R curve is a fixed starting point moving average of the volume weighted price, and acts as a support/resistance curve, to be used in the same way that trendlines are used.

]]> By: Dr Bill Kiele http://midasmarketanalysis.com/2010/04/24/sp-500-short-term-starting-new-uptrend/comment-page-1/#comment-55 Dr Bill Kiele Sun, 25 Apr 2010 06:15:52 +0000 http://midasmarketanalysis.com/?p=2361#comment-55 David, I'm new to the site and VWAP, but I got here via Dr Steenbarger's soon-to-cease traderfeed blog where I gained an appreciation for VWAP as a stable place to place buy orders. Google might have been the final bridge here, but I forget. The construction of the R/S lines and the four principal ideas behind VWAP make good sense to me, and once I figure out how to pick points for topfinder, I can write Excel routines (well, OpenOffice Calc) to sketch it in along with my support lines. At some point I'll buy the commercial product for its automation once I successfully use my manual clunker for executing SPY trades, but AMTD's programming language doesn't seem to provide support for charts with Volume blocks as the domain variable, so I wouldn't be able to go intraday. I'd hate to change online brokers over something like that. About this blog particular entry--the art of choosing when to restart support line counting, absent any breaks down through three or four support lines, may forever elude me--I'm just a math geek, and a 58-year-old one at that. Instead, I just built a sixth support line (I thought one of the earlier dips merited a support line, but that's part of the art of MIDAS, and I'm a rookie, and so am probably wrong to have done so), and it would seem calling it S5 (or S6) would reflect its potential instability. What's you personal record for number of unbroken support lines drawn? I concurred with last week's assessment of breaking TopFinder, but is that enough to restart S1? Regards, Bill Kiele David, I’m new to the site and VWAP, but I got here via Dr Steenbarger’s soon-to-cease traderfeed blog where I gained an appreciation for VWAP as a stable place to place buy orders. Google might have been the final bridge here, but I forget.

The construction of the R/S lines and the four principal ideas behind VWAP make good sense to me, and once I figure out how to pick points for topfinder, I can write Excel routines (well, OpenOffice Calc) to sketch it in along with my support lines. At some point I’ll buy the commercial product for its automation once I successfully use my manual clunker for executing SPY trades, but AMTD’s programming language doesn’t seem to provide support for charts with Volume blocks as the domain variable, so I wouldn’t be able to go intraday. I’d hate to change online brokers over something like that.

About this blog particular entry–the art of choosing when to restart support line counting, absent any breaks down through three or four support lines, may forever elude me–I’m just a math geek, and a 58-year-old one at that. Instead, I just built a sixth support line (I thought one of the earlier dips merited a support line, but that’s part of the art of MIDAS, and I’m a rookie, and so am probably wrong to have done so), and it would seem calling it S5 (or S6) would reflect its potential instability.

What’s you personal record for number of unbroken support lines drawn? I concurred with last week’s assessment of breaking TopFinder, but is that enough to restart S1?
Regards,
Bill Kiele

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