I only look at the S&P chart (currently SP9U), the actual contract volume of the S&P eMini, and the trend of the TRIN. I use Japanese candlesticks on the 1,5,15,45,135, Daily charts in these specific combinations because they divide up the trading day (405 minutes) of the S&P futures into a round number of bars with the same amount of minutes in each bar. On each chart I have the 20 period exponential moving average in red, and in grey, I have the approximation of the 20 EMA of the next time frame up from the present one. I also use a 14 period Average Directional Index on each time frame.
I look at other things now and then, such as Dow Utilities, NYSE new highs/lows, T bonds, Gold, etc., but only on an end of day basis when I sit down to write my daily column but in general I don't watch it during the trading day. I don't watch the cash indices either. I figure there are many more minds brighter than mine who try to figure out all the correlations between everything I can possibly think of, but their actions are all over the S&P tape anyway, so I just trade the S&P chart in front of me and leave everything else to the others. |
