Worth watching intraday is the S&P500 Advance-Decline issues differential; whether it is positive or negative on the day and its interplay with the zero-line.
Just some snapshots here to show how it behaves, starting with today and going back to Monday:
Stayed positive most of the day and supported by the zero-line
Negative all day and extremely negative the later part of the day. When this extreme it works well to fade extreme NYSE TICK readings (around +800) for scalp trades.
Interesting to see volume spikes that turn the market. Here the A/D line showed a false breakout of the zero-line.
and here's Monday. This week saw a positive (bullish) A/D line on only 2 days, today being one of them.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.