One of the topics I'd like to cover in the summer seminar in Chicago is recognizing range vs. breakout trading conditions. The Market Delta chart above (click for detail) shows how we broke below the volume bulge mentioned in the intraday tweet (921-924) and found increased volume/participation as we broke the overnight lows and then broke below Monday's low. It is the acceptance of price at lower levels that creates a shift in the market's estimate of value. That acceptance, demonstrated by increased volume-at-price, is our best indication that the institutional traders/investors that move markets are participating in--indeed, leading--the weakness.
If we can get conference room space during market hours, perhaps we'll be able to track some of these ideas in real time. More on the seminar to come...
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5 comments:
These shares are priceless!
Thanks,
Damien
"If we can get conference room space (in Chicagoland) during market hours, perhaps we'll be able to track some of these ideas in real time."
Dr. Brett, I may be able to get us a conference room on Wall Street. (That's Wall Street in Naperville!)
How about gotowebinnar.com
You can use this software to show your charts and also communicate verbaly.
Hi Dr. Brett,
On a side note relating to this topic as well as others, I was wondering if have read the book "Mind Over Markets by James F. Dalton, Jones and R. Dalton, 1993 & 1999". This book was written before Market Delta but covers the same topics as you do with charts from Market Delta.
thanks
deven
I look forward to it, and hopefully will be able to make the seminar.
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