As I said on my first post, I do my own way to Larry Williams „Trading Day of the Month” concept. And this is a weekly sequence coming from statistics reports I developed.
Sequence says if we have in next trading week one-way move on each market. I accept max one “correction” day with opposite direction. Statistic numbers claim an average strenght of sequence. I will push myself to publish each day statistics also on this blog for all of You.
Let me explain main ideas with reports:
- I study statistics for two periods: maximum I had access to (on each market it’s different lenght) and on last 10-years period.
- To count “strong intraday signal” I assume it has to be more than 70% for long period and minimum 80% for 10-year period.
- Having minimum strenght on both long- and short-term period will become my “Trading Day of the Month“.
Days off
Monday, 10th of June is stock market day off in:
- Germany (DAX)
- Norway (OSEAX)
- Hungary (BUX)
- Switzerland (SMI)
- Australia (ASX)
Sequences
Let’s get to numbers and sequences for upcoming days:
- DAX: this week there is no sequences either for 24-years period as it’s nothing for 10-years period;
- FTSE100: for 19-years period there is short sequence (64,5%) with strong correction on Thursday (74%), but for 10-years period there is nothing there;
- WTI: this week there is long sequence (57,4%) for 24-years period with no correction, for 10-years period it’s also long sequence (65%) with correction on Thursday (60%);
- gold: this week there is no sequences either for 44-years period as it’s nothing for 10-years period;
- dollar indes (DXY): this week there is no sequences for 12-years period.
- S&P500: this week there is no sequences either for 19-years period as it’s nothing for 10-years period;
- NASDAQ: this week there is no sequences either for 19-years period as it’s nothing for 10-years period;
- Dow Jones: this week there is no sequences either for 19-years period as it’s nothing for 10-years period;
Signals strenght
Germany DAX has only four-session week, but still it doesn’t have a seqence or even strong intraday signal this week.
FTSE100 has sequence with two strong intraday statistics. Average range for sequence is 183 points with average correction of 28 points. For last ten years there is no strong intraday statistics.
Dollar index doesn’t show us anything, intraday best statistics will be on Monday.
Oil WTI has sequences on both 36-years and 10-years period, but without strong numbers. Also there is no strong intraday signals for this week.
Gold shows no sequence and intraday statistics are below 60% all week.
S&P500 shows no sequences and intraday statistics are below 60%.
NASDAQ has no sequences and even no strong intraday signals.
Dow Jones Industrial Average same as previous two U.S. markets: no sequences and no strong intradays statistics.