MARKET MECHANIC FOR 06/28/12 BROUGHT TO YOU BY ODYSSEY TRADING

Welcome to the Market Mechanic daily blog

TODAYS ACTION: All eyes on the Supreme Court and their ruling at 9:05 AM, The ruling comes out and the market hates it, sells off and sells off hard. Our software and system picks up on the sell of and issues 7 profitable sell signals. At 2:10 PM our ten minute DTI turns positive indicating the sell off has run its course. The market puts on quite the rally, 12 points. News out of Europe indicates that an agreement on how to solve the crisis is in the works. Believe it when you see it.

TODAYS SIGNALS :

9:10 AM sell signal emini S&P price 1315.00 The set up; on the 10 minute chart the DTI and the TI agg both have negative readings, the trigger; when the 5 minute MACD, 5 minute DTI,  5 minute RSI and the 5 minute Chaikin Oscillator all align negative, a sell signal is issued. Subsequent low 1308.00.

9:25 AM  sell signal emini S&P price     1317.00 On the 5 minute chart; the set up, with the 5,10 and 20 minute DTI’s all reading negative and a negative 5 minute MACD, the trigger; on the 5 minute chart a yellow neutral bar or a green bull is bar is followed with are bearish red bar, a sell signal is generated.  Subsequent  low 1308.00.

9:30 AM    sell signal emini S&P price 1314.50 The set up; on the 10 minute chart the DTI and the TI agg both have negative readings, the trigger; when the 5 minute MACD, 5 minute DTI,  5 minute RSI and the 5 minute Chaikin Oscillator all align negative, a sell signal is issued. Subsequent low 1308.00 .

10:55 AM sell signal emini S&P price 1311.75 The set up, with the 5, 10 and 20 TIndexes all with negative readings, the trigger; on the 5 minute chart with the cross and close of the TI agg above its 70 line and then the cross and close of the TI agg below its 70 line, a sell signal is generated. Subsequent low 1306.75

11:20 AM  sell signal emini S&P price  1311.75 The set up, with the 5, 10 and 20 TIndexes all with negative readings, the trigger; on the 5 minute chart with the cross and close of the TI agg above its 70 line and then the cross and close of the TI agg below its 70 line, a sell signal is generated. Subsequent low 1306.75.

12:50 PM    sell signal emini S&P price 1309.25 The set up; on the 10 minute chart the DTI and the TI agg both have negative readings, the trigger; when the 5 minute MACD, 5 minute DTI,  5 minute RSI and the 5 minute Chaikin Oscillator all align negative, a sell signal is issued. Subsequent low 1306.75 .

1:10 PM     sell signal emini S&P price  1309.50 The set up; on the 10 minute chart the DTI and the TI agg both have negative readings, the trigger; when the 5 minute MACD, 5 minute DTI,  5 minute RSI and the 5 minute Chaikin Oscillator all align negative, a sell signal is issued. Subsequent low 1306.75.

2:10 PM   buy signal emini S&P price  1312.00     The set up; on the 10 minute chart with the cross of the TI agg below and close below its 30 line, the trigger: the cross of the TI agg back above and close above its 30 line and a positive reading on the 10 minute DTI, indicating the market coming out of an oversold area, a buy signal is generated. Subsequent high 1324.25

AFTER THE CLOSE: 
The late afternoon rally  pulled all the DTI"s positive a good sign for the bulls. The Tindexes with the exception of the 5 minute and 10 minute   all finished the day with negative readings. One for the bears. With the upcoming Euro conference on how to pull themselves out of their mess we will patiently wait for the trading signals our software generates. There is no need on trying to guess what or how Europe will pull itself out of its mess. 

TODAYS CHART: 

ABOUT THE MARKET MECHANIC:
The Market Mechanic has developed 3 proprietary indexes and oscillators: the Trend Index Aggressive (TI agg), the Delta Trend Index (DTI) and the Trend Index (TIndex).  These 3 proprietary indicators combined with the Directional Movement Index (DMI), the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) give us several distinct, high probability set ups that are used to day trade the emini S&P market. These indexes and oscillators are applied on time frames from 5 minutes to 60 minutes (5, 10, 15, 20, 30, 45 and 60) and these set ups are traded on all time frames. The final product of the combination of these proprietary and non proprietary oscillators and indexes is a mechanical system and methodology for identifying entry points into the market that completely sidelines emotion and allows its user to concentrate on the money management part of the trading equation.
The philosophy of the Market Mechanic is not to predict the market but to anticipate likely market scenarios that the market will produce on a daily basis and the best way to exploit these opportunities. These set ups are designed to profitably and consistently exploit these market scenarios.
Markets are opportunity generating machines; our software and methodology strive to take advantage of these opportunities as they arise and provide its users a consistent and reliable profit making trading set ups.