MARKET MECHANIC for 06/29/2012 BROUGHT TO YOU BY ODYSSEY TRADING

Welcome to the Market Mechanic daily blog

TODAYS ACTION:
Europe, has it all worked out the Euro Zone survives. At least that is the message of the day. I will believe it when I see it. Our software and system reads the trend and generates 7 profitable buy signals.

TODAYS SIGNALS;

8:45 AM  buy signal emini S&P price 1344.25 On the 5 minute chart; the set up, with the DTI’s on the 5, 10 and 20 minute chart all with positive readings and the 5 minute MACD also with a positive reading and the ADX with a reading of plus 25 on the 5 minute chart, the trigger; the first 5 minute fast stochastic cross of the day from negative to positive, buy signal generated. Subsequent high 1359.25.

9:00 AM buy signal emini S&P price  1345.25 On the 10 minute chart, the set up; with the 5, 10 and 20 minute  DTI’s and 5 minute MACD all with positive readings, in conjunction with a plus 25 reading of the ADX on the 5 minute chart, the trigger, the first cross of the 10 minute fast stochastic from negative to positive generates buy signal. Subsequent high 1359.50

10:00 AM buy signal emini S&P price  1348.25 On the 5 minute chart; the set up, with the 5,10 and 20 minute DTI’s all reading positive and a positive 5 minute MACD, the trigger; on the 5 minute chart a yellow neutral bar is followed with are bullish green bar, a buy signal is generated. Subsequent high 1359.50.

10:20 AM  buy signal emini S&P price  1349.00 On the 10 minute chart, the set up; with the 5, 10 and 20 minute  DTI’s and 5 minute MACD all with positive readings, in conjunction with a plus 25 reading of the ADX on the 5 minute chart, the trigger, the first cross of the 10 minute fast stochastic from negative to positive generates buy signal. Subsequent high 1359.50.

11:20 AM  buy signal emini S&P price    1348.25 On the 10 minute chart, the set up; with the 5, 10 and 20 minute  DTI’s and 5 minute MACD all with positive readings, in conjunction with a plus 25 reading of the ADX on the 5 minute chart, the trigger, the first cross of the 10 minute fast stochastic from negative to positive generates buy signal. Subsequent high 1359.50
 
12:00 PM buy signal emini S&P price  1349.50. The set up, with the 5, 10 and 20 TIndexs all with positive readings,  on the 5 minute chart with the cross and close of the TI agg below its 30 line and then  the cross and close of the TI agg above its 30 line, the trigger: the first green  5 minute bar, generates a buy signal. Subsequent high 1359.50
 

2:45 PM buy signal emini S&P price 1352.50 . The set up, with the 5, 10 and 20 TIndexs all with positive readings,  on the 5 minute chart with the cross and close of the TI agg below its 30 line and then  the cross and close of the TI agg above its 30 line, the trigger: the first green  5 minute bar, generates a buy signal. Subsequent high 1359.50

  
AFTER THE CLOSE: The proprietary indicator TIndexs the 10 minute through the 60 minute all finished the day positive, a good sign going forward and the DTI's with the exception of the 10 minute also finished positive on the day. If things in Europe play out as advertised, it looks like we have put in a solid base for the resumption of the bull market.  

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.