Monthly Archives: July 2011

Off for a while

Posted on July 29, 2011 by Michael Harris

I will take a two week break to attend a meeting of a group of economists, investors and fund managers held in an island somewhere in Europe and I all also visit friends in England and Italy. I will have no time to answer emails during that … Continue reading →

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p-indicator calculations point to a significant move in QQQ

Posted on July 29, 2011 by Michael Harris

As of the close of Thursday, July 28, 2011, p-indicator results indicate high probability for a  significant move in QQQ. Specifically, the numbers show a large positive bias with moderate significance for all target/stop pairs used.

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QQQ Gap Filled. What’s next?

Posted on July 28, 2011 by Michael Harris

In my last post I talked about the QQQ gap at the open of Tuesday, July 18, 2011, and that it was very possible that it will be filled, triggering at the same time a broader market correction. The market demonstrated a … Continue reading →

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Is the Gap in QQQ From a Week Ago Significant?

Posted on July 26, 2011 by Michael Harris

There is a gap in the daily QQQ chart left behind five days ago, at the open of Tuesday, July 18, 2011. The open price was $58.09 and never moved lower. As a result the low of the day was … Continue reading →

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What is Price Action Lab?

Posted on July 23, 2011 by Michael Harris

I receive several emails each day with questions about Price Action Lab, the program I use to identify price patterns and perform indicator calculations for my blog. The short answer is that Price Action Lab is a program that discovers automatically … Continue reading →

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SPY and QQQ Buy at the Open – Sell at the Close Probabilities

Posted on July 22, 2011 by Michael Harris

The simplest kind of intraday trading is to initiate a position at the open of the day and exit at the close. Although it sounds simple in principle, this type of trading requires good timing of entries to maintain a high profit factor. … Continue reading →

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p-indicator Calculations Indicate High Probability for a Short-Term Market Rally

Posted on July 19, 2011 by Michael Harris

As of the close of yesterday, Monday, July 18, 2011, p-indicator results for SPY indicate high probability for a  short-term rally. Specifically, results for profit target and stop-loss of 1%, 2% and 3% show a large positive bias with moderately high significance.

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A Bear Market on the Horizon? Analysis of the Weekly S&P 500 Index Chart

Posted on July 18, 2011 by Michael Harris

At first glance, the weekly S&P 500 chart offers a very pessimistic view about the medium to longer-term direction of the market. A head and shoulders formation is immediately evident even to the untrained eye. The important line of this formation, the … Continue reading →

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The State of ETFs – July 18, 2011 – The Week Ahead

Posted on July 17, 2011 by Michael Harris

As of the close of Friday, July 15, 2011, there are 8 changes in the ETF trend state table in relation to the close of the previous week. Four of the changes are related to the short and medium-term trend of SPY and … Continue reading →

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Winning Probabilities for Buying at the Open and Selling at the Close for SPY and QQQ

Posted on July 15, 2011 by Michael Harris

The simplest kind of intraday trading is to initiate a position at the open of the day and exit at the close. Although it sounds simple in principle, this type of trades require good timing of entries to maintain a high profit factor. Quite … Continue reading →

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