THE MARKET MECHANIC BROUGHT TO YOU BY ODYSSEY TRADING GROUP FOR 07/27/ 2012

Welcome to the Market Mechanic daily blog
 
TODAYS ACTION: GDP numbers are released at 7:30 AM and they come in less than expected. This disappointing number suggest to some that the Fed will  engage QE 2 sooner than now expected. The market gaps open higher and as the morning moves on the market momentum picks up. The software and system reads the trend and the momentum and generates 5 profitable buy signals before noon. The Europeans say that all is good and under control at 12:30PM, the market buys it and prices spike. The system generates 3 more profitable buy signals.

TODAYS SIGNALS:

8:50 buy signal emini S&P price 1363.25 On the 5 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 5 minute fast stochastic from negative to positive generates  a buy signal. Subsequent high 1385

9:40 AM buy signal emini S&P price 1365.25 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
 1385
10:00 AM    buy signal emini S&P price 1369.50     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 1385           

12:30 PM .buy signal emini S&P price379.00    The set up; on the 10 minute chart the DTI and the TI agg both have positive readings, the trigger; when the 5 minute MACD, 5 minute RSI, 5 minute DTI and the 5 minute Chaikin Oscillator all align positive, a buy signal is issued. Subsequent high 1385  .

1:55 PM       buy signal emini S&P price 1382.00     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 1385           

2:30 PM     buy signal emini S&P price 1383.75  . The set up, with the 5, 10, 20 TIndexs and 20 minute TI agg with positive readings and the 5 and 10 minute DTI’s all with positive readings, the trigger: the cross of the 20 minute DTI from negative to positive, a buy signal is generated. Subsequent high 1385.

AFTER THE CLOSE:

TODAYS CHART: