Home Study Futures Course: Quarter 2.
Month_4_5_6
In the first quarter you learned the Trader Control database,
how to manipulate it and how to use it to develop your strategy. You
learned about reference points and should be very familiar with the five
primary ones (three from the Overlay Demand Curve, one for the
commercials and the internal trend). You should have become passingly
familiar with other reference points, principally those listed in the
day market review.
This Quarter contains the lessons for Months 4 and 6 on protecting
your money and exiting from trades. Month 5 is the WORKBOOK.
Review of Quarter 1
Questions 1 (Answers from CISCO)
Test questions.
More questions.
Review of quarter 1, with questions.
Index, Quarter 2
Month 4: Street smarts, protecting your money.
Introduction
A. Discipline
Outside Advice, A No-No
Following the News, A No-No
Do Your Homework
Controlling Greed, Controlling Fear
B. The Trading Arena: Exchange Environment, Regulatory Agencies
The Exchange: A Private Organization
The Exchange: Path of a Trade
The Exchange: Filling Your Order
The Exchange: Orders
The Exchange: The Initial Balance
Regulatory Agencies
The National Futures Association
Brokerage Firms
C. Leverage
Using Leverage Wisely
The Five Percent Per Trade Rule
Leverage and Risk Control
D. Leverage: The Entire Account
E. Scale-up and Scale-down Trading
F. Cost Control
Direct Costs
Indirect Costs
G. Slip: Using Tick-by-Tick data
Month 5: Workbook
Market Phases on blue 2 page flyer
Month 6: Test Phase of the Market.
Introduction
A. Start analysis of Testing by T-bonds for July 10, 1996: 4 Day Bracket
B. July 11: Breakout Up, New Bracket
C. July 12: Breakout Up
D. July 15: Exit Long, Bracket
E. July 16: Breakout Up (false)
F. July 17: Bracket
G. July 18: Breakout Up
Index for Frequently Asked Questions FAQ's
FAQA General
FAQB Futures Data, Technical Analysis
FAQC Market generated data: Market Profile, Liquidity Data
FAQD Market generated data: Overlay Demand Curves
FAQE Reference points
FAQF Home Study Course
FAQG Trader Control Package
FAQH TCP Visual Volume Graphics
FAQI Data retrieval, viewing, printing
Review of Quarter 1
Trader Control data for T-bonds: Questions & Answers
Day 1:
Screen for U2, 9
DY FUTURE D UPPER LOWER CLOSE $RNG
05 U2 9 96 L 11110 11016 11020 812Y
10 U2 9 96 L 11208 11016 11020 1750Y
15 U2 9 96 L 11206 11016 11020 1687Y
Overlay(tm) and Extension for 5 days.
SEP 96 T-BOND (CBOT) DAY
08 15 96 TO 08 21 96
PRICE DYS L/F ROT PROFILE * TPOS TPO VOL OVERLAY *
11110 1 6 4 XXXX
11109 2 67 7 XXXXXXX
11108 2 67 7 XXXXXXX
11107 2 67 10 XXXXXXXXXX
11106 2 67 11 XXXXXXXXXXX
11105 3 678 12 XXXXXXXXXXXX
11104 3 678 11 XXXXXXXXXXX
11103 3 678 12 XXXXXXXXXXXX
11102 3 678 11 XXXXXXXXXXX
11101 3 678 15 XXXXXXXXXXXXXXX
11100 4 5 5678 22 XXXXXXXXXXXXXXXXXXXXXX
11031 4 5 5678 27 XXXXXXXXXXXXXXXXXXXXXXXXXXX
11030 4 5 5678 27 XXXXXXXXXXXXXXXXXXXXXXXXXXX
11029 3 5 578 22 XXXXXXXXXXXXXXXXXXXXXX
11028 3 5 578 20 XXXXXXXXXXXXXXXXXXXX
11027 3 5 578 17 XXXXXXXXXXXXXXXXX
11026 3 5 578 12 XXXXXXXXXXXX
11025 4 59 5789 13 XXXXXXXXXXXXX
11024 4 59 5789 12 XXXXXXXXXXXX
11023 3 59 589 16 XXXXXXXXXXXXXXXX
11022 2 59 59 18 XXXXXXXXXXXXXXXXXX
11021 2 59 59 17 XXXXXXXXXXXXXXXXX
11020 2 59 59 19 XXXXXXXXXXXXXXXXXXX close
11019 2 59 59 20 XXXXXXXXXXXXXXXXXXXX
11018 2 59 59 17 XXXXXXXXXXXXXXXXX
11017 2 59 59 7 XXXXXXX
11016 1 9 9 6 XXXXXX
11015 1 9 9 2 XX
11014 1 9 9 1 X
OVERLAY ANALYSIS: Entire Overlay
Close 11020 Ten day: Average range 23 Maximum range 120
Number prices in overlay 29 Total TPOs 395
Trade facilitation factor (TPOs/prices/days) = 2.72
TPO Control Price (HPTP) 11030: TPOs Above and Below Control 149 218
DISTRIBUTION INFO: Minimum Dist = 4 Prices, 3 TPOs. Latest day symb = 9
There is/are 1 Distribution(s) in this Overlay
DIST# HIGH MXTPO LOW PEAKTPOs
1 11110 11030 11016 27
Close in Distribution # 1. Limits = 11110 11016
Quadrant 1-2 Division Pt: 11104.
Quadrant 3-4 Division Pt: 11022.
Each quadrant is approx. 6.
ROTATION INDEX AND QUADRANT OF CLOSE
8 DY CLO 4 DY CLO DAY
TRD DATE HI LO RI QD RI QD ID
08 15 96 11100 11017 0.67 4 0.50 4 5
08 16 96 11110 11030 0.58 3 0.50 3 6
08 19 96 11109 11024 0.58 4 0.67 2 7
08 20 96 11105 11023 0.50 4 0.67 3 8
08 21 96 11025 11014 0.50 4 0.50 4 9
Extended Overlay(tm) Analysis for:
5 U2 9 96 Preferred Dir = L
Location Price $Pot $Risk
Upper Limit 11110
Octant 11107 312 104
Sextant 11106 281 140
Quadrant 11104 218 218
Mid Dist 11029
Quadrant 11022 218 218
Sextant 11020 281 140
Octant 11019 312 104
Lower Limit 11016
The CISCO Commercial Traders Volume Analysis
VOL/PRICE TIC VALUE AREA QUADRANT
DATE HIGH LOW CLOSE CTI V-AB V-VA V-BL %TOT %ABV %VA %BLO %QD1 %QD4
08 21 96 11025 11014 11019 2 21 100 31 7.1 0.9 5.2 1.0 4.5 13.8
08 20 96 11105 11023 11027 2 33 100 13 7.0 1.3 5.4 0.3 11.5 4.4
08 19 96 11109 11024 11028 2 11 100 9 8.0 1.1 6.5 0.3 1.6 25.2
08 16 96 11110 11030 11109 2 40 100 40 9.2 0.4 6.8 2.0 19.5 12.6
08 15 96 11101 11017 11022 2 36 100 24 9.0 1.8 6.6 0.6 9.0 29.7
08 14 96 11106 11022 11031 2 43 100 30 7.5 1.4 5.2 0.8 16.0 17.0
08 13 96 11216 11028 11030 2 6 100 26 8.3 0.7 6.1 1.4 5.9 18.7
08 12 96 11209 11125 11203 2 31 100 10 7.0 1.6 5.2 0.2 15.3 23.9
08 09 96 11208 11117 11203 2 22 100 14 10.3 0.9 8.3 1.0 17.5 4.3
08 08 96 11124 11104 11107 2 33 100 10 11.6 3.1 8.3 0.2 2.5 40.2
AVERAGE 2 27 100 20 8.5 1.3 6.4 0.8 10.3 19.0
08 16 Lower Comml Action: 11030 VALUE AREA
08 13 Lower Comml Action: 11028 VALUE AREA
08 08 Upper Comml Action: 11124 VALUE AREA
Lower Comml Action: 11104 QUADRANT
Questions: Day 1
1A. There are three Overlays available today for the T-bonds, 5, 10 & 15
days. From this evidence alone, why do you suppose there is no 20
day Overlay listed? ____________________________________________
2A. Although there are three different time frames (5, 10 & 15 days), we
have selected the 5 day to list above. Why did we use the 5 day
instead of one of the others? ____________________________________
3A. Name the 3 main reference points associated with the 5 day Overlay.
______________
______________
______________
______________
4A. There are 2 more primary reference points potentially available in
the data above. Name them.
______________________________________________
______________________________________________
Instructions: Using the primary reference points, answer the following:
1B. Where would an upside breakout begin? __________
Locate the stop. ______ .
What is the dollar value of the stop? ___________
What effect would today's commercial activity have on your answer?
____________________________________________________________
2B. If there was no upside breakout, where would you(responsive) short? ________
If you (responsive)shorted the market where is your stop? _______
If you (responsive)shorted the market where is your target? _______
3B. Where is price when the probability of either up or down is equal? _____
Locate the stop. ______
What is the dollar value of the stop? ___________
What effect would the commercial activity have on your answer?
____________________________________________________________
5B. If there was no downside breakout, where would you go (responsive) long? ________
If you (responsive) bought the market where is your stop? _______
If you (responsive) bought the market where is your target? _______
--------------------------------------------------------------------------------
Day 2
Screen for U2, 9
DY FUTURE D UPPER LOWER CLOSE $RNG
05 U2 9 96 L 11110 11010 11018 1000Y
10 U2 9 96 L 11110 11012 11018 937Y
15 U2 9 96 L 11206 11012 11018 1812Y
20 U2 9 96 L 11206 11012 11018 1812Y
Overlay(tm) and Extension for 5 days.
SEP 96 T-BOND (CBOT) DAY
08 16 96 TO 08 22 96
PRICE DYS L/F ROT PROFILE * TPOS TPO VOL OVERLAY *
11110 1 5 5 4 XXXX
11109 2 5 56 7 XXXXXXX
11108 2 5 56 7 XXXXXXX
11107 2 5 56 10 XXXXXXXXXX
11106 2 5 56 11 XXXXXXXXXXX
11105 3 5 567 12 XXXXXXXXXXXX
11104 3 5 567 11 XXXXXXXXXXX
11103 3 5 567 12 XXXXXXXXXXXX
11102 3 5 567 11 XXXXXXXXXXX
11101 3 5 567 15 XXXXXXXXXXXXXXX
11100 3 5 567 20 XXXXXXXXXXXXXXXXXXXX
11031 3 5 567 25 XXXXXXXXXXXXXXXXXXXXXXXXX
11030 3 5 567 25 XXXXXXXXXXXXXXXXXXXXXXXXX
11029 2 67 19 XXXXXXXXXXXXXXXXXXX
11028 3 9 679 17 XXXXXXXXXXXXXXXXX
11027 3 9 679 12 XXXXXXXXXXXX
11026 3 9 679 6 XXXXXX
11025 4 9 6789 6 XXXXXX
11024 4 9 6789 7 XXXXXXX
11023 3 9 789 8 XXXXXXXX
11022 2 9 89 9 XXXXXXXXX
11021 2 9 89 11 XXXXXXXXXXX
11020 2 9 89 13 XXXXXXXXXXXXX
11019 2 9 89 14 XXXXXXXXXXXXXX
11018 2 9 89 17 XXXXXXXXXXXXXXXXX close
11017 2 9 89 12 XXXXXXXXXXXX
11016 2 9 89 12 XXXXXXXXXXXX
11015 2 9 89 9 XXXXXXXXX
11014 2 9 89 9 XXXXXXXXX
11013 1 9 9 9 XXXXXXXXX
11012 1 9 9 7 XXXXXXX
11011 1 9 9 6 XXXXXX
11010 1 9 9 3 XXX
11009 1 9 9 3 XXX
OVERLAY ANALYSIS: Entire Overlay
Close 11018 Ten day: Average range 23 Maximum range 120
Number prices in overlay 34 Total TPOs 379
Trade facilitation factor (TPOs/prices/days) = 2.23
TPO Control Price (HPTP) 11030: TPOs Above and Below Control 145 209
DISTRIBUTION INFO: Minimum Dist = 4 Prices, 3 TPOs. Latest day symb = 9
There is/are 1 Distribution(s) in this Overlay
DIST# HIGH MXTPO LOW PEAKTPOs
1 11110 11030 11010 25
Close in Distribution # 1. Limits = 11110 11010
Quadrant 1-2 Division Pt: 11102.
Quadrant 3-4 Division Pt: 11018.
Each quadrant is approx. 8.
ROTATION INDEX AND QUADRANT OF CLOSE
8 DY CLO 4 DY CLO DAY
TRD DATE HI LO RI QD RI QD ID
08 16 96 11110 11030 0.58 3 0.50 3 5
08 19 96 11109 11024 0.58 4 0.67 2 6
08 20 96 11105 11023 0.50 4 0.67 3 7
08 21 96 11025 11014 0.50 4 0.50 4 8
08 22 96 11028 11009 0.50 4 0.67 3 9
Extended Overlay(tm) Analysis for:
5 U2 9 96 Preferred Dir = L
Location Price $Pot $Risk
Upper Limit 11110
Octant 11106 375 125
Sextant 11105 343 171
Quadrant 11102 250 250
Mid Dist 11026
Quadrant 11018 250 250
Sextant 11015 343 171
Octant 11014 375 125
Lower Limit 11010
The CISCO Commercial Traders Volume Analysis
VOL/PRICE TIC VALUE AREA QUADRANT
DATE HIGH LOW CLOSE CTI V-AB V-VA V-BL %TOT %ABV %VA %BLO %QD1 %QD4
08 22 96 11028 11009 11017 2 48 100 0 7.5 2.0 5.5 0.0 16.4 25.9
08 21 96 11025 11014 11019 2 21 100 31 7.1 0.9 5.2 1.0 4.5 13.8
08 20 96 11105 11023 11027 2 33 100 13 7.0 1.3 5.4 0.3 11.5 4.4
08 19 96 11109 11024 11028 2 11 100 9 8.0 1.1 6.5 0.3 1.6 25.2
08 16 96 11110 11030 11109 2 40 100 40 9.2 0.4 6.8 2.0 19.5 12.6
08 15 96 11101 11017 11022 2 36 100 24 9.0 1.8 6.6 0.6 9.0 29.7
08 14 96 11106 11022 11031 2 43 100 30 7.5 1.4 5.2 0.8 16.0 17.0
08 13 96 11216 11028 11030 2 6 100 26 8.3 0.7 6.1 1.4 5.9 18.7
08 12 96 11209 11125 11203 2 31 100 10 7.0 1.6 5.2 0.2 15.3 23.9
08 09 96 11208 11117 11203 2 22 100 14 10.3 0.9 8.3 1.0 17.5 4.3
AVERAGE 2 29 100 19 8.1 1.2 6.1 0.8 11.7 17.5
08 22 Upper Comml Action: 11028 VALUE AREA
08 16 Lower Comml Action: 11030 VALUE AREA
08 13 Lower Comml Action: 11028 VALUE AREA
Questions: Day 2
1A. There are four Overlays available today for the T-bonds.
Which one would we generally use?
______________________________________________
2A. What is a 'false breakout'? Do you see one in the Day 2 data?
Explain
______________________________________________
3A. Name the 3 main reference points associated with the 5 day Overlay.
______________
______________
______________
______________
4A. There are 2 more primary reference points potentially available in
the data above. Name them. Any reservations on either?
______________________________________________
______________________________________________
Instructions: Using the primary reference points, answer the following:
1B. Where would an upside breakout begin? __________
Locate the stop. ______ .
What is the dollar value of the stop? ___________
What effect would today's commercial activity have on your answer?
____________________________________________________________
2B. If there was no upside breakout, where would you short? ________
If you (responsive)shorted the market where is your stop? _______
If you (responsive)shorted the market where is your target? _______
3B. Where is price when the probability of either up or down is equal? _____
4B. Where would an upside breakout begin? __________
Locate the stop. ______
What is the dollar value of the stop? ___________
What effect would the commercial activity have on your answer?
____________________________________________________________
5B. If there was no downside breakout, where would you go long? ________
If you (responsive) bought the market where is your stop? _______
If you (responsive) bought the market where is your target? _______
--------------------------------------------------------------------------------
Day 3
Screen for U2, 9
DY FUTURE D UPPER LOWER CLOSE $RNG
. There are no Brackets for U2, 9.
Overlay(tm) and Extension for 5 days.
Overlay(tm) for Days = 5 is not bracketing
SEP 96 T-BOND (CBOT) DAY
08 19 96 TO 08 23 96
PRICE DYS L/F ROT PROFILE * TPOS TPO VOL OVERLAY *
11109 1 5 5 1 X
11108 1 5 5 1 X
11107 1 5 5 1 X
11106 1 5 5 1 X
11105 2 5 56 2 XX
11104 2 5 56 2 XX
11103 2 5 56 4 XXXX
11102 2 5 56 4 XXXX
11101 2 5 56 11 XXXXXXXXXXX
11100 2 5 56 16 XXXXXXXXXXXXXXXX
11031 2 5 56 22 XXXXXXXXXXXXXXXXXXXXXX
11030 2 5 56 22 XXXXXXXXXXXXXXXXXXXXXX
11029 2 5 56 19 XXXXXXXXXXXXXXXXXXX
11028 3 5 568 17 XXXXXXXXXXXXXXXXX
11027 3 5 568 12 XXXXXXXXXXXX
11026 3 5 568 6 XXXXXX
11025 4 5 5678 6 XXXXXX
11024 4 5 5678 7 XXXXXXX
11023 3 678 8 XXXXXXXX
11022 2 78 9 XXXXXXXXX
11021 2 78 11 XXXXXXXXXXX
11020 2 78 13 XXXXXXXXXXXXX
11019 2 78 14 XXXXXXXXXXXXXX
11018 2 78 17 XXXXXXXXXXXXXXXXX
11017 2 78 12 XXXXXXXXXXXX
11016 3 9 789 13 XXXXXXXXXXXXX
11015 3 9 789 10 XXXXXXXXXX
11014 3 9 789 10 XXXXXXXXXX
11013 2 9 89 10 XXXXXXXXXX
11012 2 9 89 8 XXXXXXXX
11011 2 9 89 7 XXXXXXX
11010 2 9 89 4 XXXX
11009 2 9 89 4 XXXX
11008 1 9 9 1 X
11007 1 9 9 1 X
11006 1 9 9 1 X
11005 1 9 9 1 X
11004 1 9 9 1 X
11003 1 9 9 1 X
11002 1 9 9 2 XX
11001 1 9 9 3 XXX
11000 1 9 9 4 XXXX
10931 1 9 9 5 XXXXX
10930 1 9 9 5 XXXXX
10929 1 9 9 2 XX
10928 1 9 9 3 XXX
10927 1 9 9 3 XXX
10926 1 9 9 3 XXX
10925 1 9 9 3 XXX
10924 1 9 9 2 XX
10923 1 9 9 3 XXX
10922 1 9 9 3 XXX
10921 1 9 9 5 XXXXX
10920 1 9 9 4 XXXX
10919 1 9 9 4 XXXX
10918 1 9 9 5 XXXXX
10917 1 9 9 6 XXXXXX close
10916 1 9 9 4 XXXX
10915 1 9 9 3 XXX
10914 1 9 9 4 XXXX
10913 1 9 9 3 XXX
10912 1 9 9 3 XXX
10911 1 9 9 2 XX
10910 1 9 9 1 X
OVERLAY ANALYSIS: Entire Overlay
Close 10917 Ten day: Average range 24 Maximum range 120
Number prices in overlay 64 Total TPOs 395
Trade facilitation factor (TPOs/prices/days) = 1.23
TPO Control Price (HPTP) 11030: TPOs Above and Below Control 61 301
DISTRIBUTION INFO: Minimum Dist = 4 Prices, 3 TPOs. Latest day symb = 9
There is/are 4 Distribution(s) in this Overlay
DIST# HIGH MXTPO LOW PEAKTPOs
1 11103 11030 11009 22
2 11001 10930 10930 5
3 10928 10925 10925 3
4 10923 10917 10912 6
Distribution Above Close = 10928 10925
Close in Distribution # 4. Limits = 10923 10912
Quadrant 1-2 Division Pt: 10921.
Quadrant 3-4 Division Pt: 10914.
Each quadrant is approx. 2.
ROTATION INDEX AND QUADRANT OF CLOSE
8 DY CLO 4 DY CLO DAY
TRD DATE HI LO RI QD RI QD ID
08 19 96 11109 11024 0.58 4 0.67 2 5
08 20 96 11105 11023 0.50 4 0.67 3 6
08 21 96 11025 11014 0.50 4 0.50 4 7
08 22 96 11028 11009 0.50 4 0.67 3 8
08 23 96 11016 10910 0.50 4 0.33 4 9
The CISCO Commercial Traders Volume Analysis
VOL/PRICE TIC VALUE AREA QUADRANT
DATE HIGH LOW CLOSE CTI V-AB V-VA V-BL %TOT %ABV %VA %BLO %QD1 %QD4
08 23 96 11016 10909 10916 2 14 100 75 5.0 0.4 3.4 1.2 5.7 30.3
08 22 96 11028 11009 11017 2 48 100 0 7.5 2.0 5.5 0.0 16.4 25.9
08 21 96 11025 11014 11019 2 21 100 31 7.1 0.9 5.2 1.0 4.5 13.8
08 20 96 11105 11023 11027 2 33 100 13 7.0 1.3 5.4 0.3 11.5 4.4
08 19 96 11109 11024 11028 2 11 100 9 8.0 1.1 6.5 0.3 1.6 25.2
08 16 96 11110 11030 11109 2 40 100 40 9.2 0.4 6.8 2.0 19.5 12.6
08 15 96 11101 11017 11022 2 36 100 24 9.0 1.8 6.6 0.6 9.0 29.7
08 14 96 11106 11022 11031 2 43 100 30 7.5 1.4 5.2 0.8 16.0 17.0
08 13 96 11216 11028 11030 2 6 100 26 8.3 0.7 6.1 1.4 5.9 18.7
08 12 96 11209 11125 11203 2 31 100 10 7.0 1.6 5.2 0.2 15.3 23.9
AVERAGE 2 28 100 25 7.6 1.2 5.6 0.8 10.5 20.1
08 23 Lower Comml Action: 10909 VOL/PRICE VALUE AREA QUADRANT
08 22 Upper Comml Action: 11028 VALUE AREA
08 16 Lower Comml Action: 11030 VALUE AREA
08 13 Lower Comml Action: 11028 VALUE AREA
Questions: Day 3
1A. There are no Overlays available today for the T-bonds.
From this day's data, why do you suppose there are no
Overlays listed? ____________________________________________
2A. What is the market condition?
______________________________________________
3A. Name the Overlay reference points associated with today's distribution.
______________
______________
______________
______________
4A. There are 2 more primary reference points potentially available in
the data above. Name it.
______________________________________________
Instructions: Using the primary reference points, answer the following:
1B. Would a swing trader be long or short? __________
Locate the stop. ______ .
What is the dollar value of the stop? ___________
What effect would today's commercial activity have on your answer?
____________________________________________________________
Review of Reference Points, Quarter 1; Advance information on Quarter 2.
As a market trades, it gives a complete, integrated report of what it is
doing. This is the market generated data. The raw data has all the
information from all trader types integrated together.
Introduced in Quarter 1, the basic set of six reference points is:
Market Condition (3)
Internal Trend
Commercial Activity
Pauses in Trends
A. Market Condition (three points)
Upper/Lower Bracket Limits
Upper/Lower Octants
Middle of distribition
Idealized Overlay Demand Curve (tm), with Reference Points
TPO Volume
100:00 x
99:31 xx Trading above the limit alerts to start of up-trend
99:30 xxx <== Upper bracket limit: Breakout point.
99:29 xxxx
99:28 xxxxx <== Octant: One-eighth of bracket range.
99:27 xxxxxx
99:26 xxxxxxx (<== Quadrant: One-quarter of bracket range.)
99:25 xxxxxxxx
99:24 xxxxxxxxx
99:23 xxxxxxxxxx
99:22 xxxxxxxxxxx (<== Middle of distribution.)
99:21 xxxxxxxxxx
99:20 xxxxxxxxx
99:19 xxxxxxxx
99:18 xxxxxxx (<== Quadrant: One-quarter of bracket range.)
99:17 xxxxxx
99:16 xxxxx <== Octant: One-eighth of bracket range.
99:15 xxxx
99:14 xxx <== Lower bracket limit: Breakout point.
99:13 xx Trading below the limit alerts to start of down-trend
99:12 x
ROTATION INDEX AND QUADRANT OF CLOSE
8 DY CLO 4 DY CLO DAY
TRD DATE HI LO RI QD RI QD ID
11 06 96 6834 6770 0.50 3 0.42 1 5
11 07 96 6890 6844 0.42 2 0.25 1 6
11 08 96 6884 6824 0.50 2 0.25 1 7
11 11 96 6880 6764 0.58 2 0.67 4 8
11 12 96 6880 6630 0.67 1 0.42 1 9
09 03 Upper Comml Action: 10714 VALUE AREA
Lower Comml Action: 10602 QUADRANT
08 30 Upper Comml Action: 10725 VALUE AREA
08 29 Upper Comml Action: 10817 VALUE AREA
Lower Comml Action: 10717 VALUE AREA QUADRANT
08 28 Upper Comml Action: 10820 QUADRANT
08 27 Upper Comml Action: 10820 QUADRANT
08 23 Upper Comml Action: 11001 VALUE AREA QUADRANT
Lower Comml Action: 10826 VOL/PRICE QUADRANT
08 22 Upper Comml Action: 11012 VOL/PRICE QUADRANT
08 20 Lower Comml Action: 11008 VALUE AREA
HALF-HOUR AUCTIONS FOR THE DAY.
y z A B C D E F G H I J K L M
10714 11
10713 18 1
10712 20 3
10711 26 4
10710 3 26
10709 10 21
10708 13 10
10707 11 2
10706 4 7
10705 15 4 6
10704 17 14 5
10703 19 19 6
10702 20 21 6
10701 11 18 3
10700 4 3 2
10631 7 3
10630 1 19 3
10629 15 21
10628 17 15
10627 8 5 5
10626 12 5
10625 6 8
10624 7 8 4
10623 6 19 15 1
10622 28 19 11
10621 34 10 2
10620 23
10619 2 14
10618 16 11
10617 5 20 8
10616 34 19 2
10615 47 14
10614 30 11
10613 3 13 18
10612 6 12 16
10611 10 25 11
10610 21 24 10
10609 20 18 7
10608 6 18 3
10607 12 9 7 5
10606 9 25 24 6
10605 6 50 30 5
10604 50 20 2
10603 21 11
10602 3 3
y z A B C D E F G H I J K L M
Overlay(tm) and Extension for 5 days.
JAN 97 SOYBEANS (CBOT)
10 28 96 TO 11 01 96
PRICE DYS L/F ROT PROFILE * TPOS TPO VOL OVERLAY *
7060 1 5 5 1 X
7050 1 5 5 4 XXXX <== breakout down
7040 1 5 5 8 XXXXXXXX
7030 2 5 56 9 XXXXXXXXX Node # 1
7020 2 5 56 2 XX
7010 1 6 1 X
7000 1 6 1 X
6990 2 67 5 XXXXX
6980 2 67 8 XXXXXXXX
6970 2 67 6 XXXXXX Node # 2
6960 2 67 6 XXXXXX
6950 2 67 8 XXXXXXXX
6940 2 67 5 XXXXX
6930 1 7 2 XX
6920 1 7 1 X
6910 1 7 1 X
6890 1 8 2 XX
6880 1 8 2 XX
6870 1 8 2 XX
6860 1 8 4 XXXX
6850 1 8 5 XXXXX
6840 1 8 6 XXXXXX Node # 3
6830 1 8 4 XXXX
6820 1 8 2 XX
6810 1 8 3 XXX
6800 1 8 3 XXX
6790 1 8 2 XX
6780 1 8 2 XX
6770 1 8 2 XX
6760 1 8 3 XXX
6750 1 8 3 XXX Node # 4
6740 1 8 2 XX
6730 1 8 1 X
6720 1 9 9 1 X
6710 2 9 89 2 XX
6700 2 9 89 4 XXXX
6690 1 9 9 4 XXXX
6680 2 9 89 8 XXXXXXXX
6670 2 9 89 8 XXXXXXXX Node # 5
6660 1 9 9 7 XXXXXXX
6650 1 9 9 5 XXXXX
6640 1 9 9 2 XX
6630 1 9 9 1 X
Condition Reference point Interpretation
Bracketing: Volume decreasing positive for continuation
Bracketing: Volume increasing positive for change
Bracketing: Volume stable positive for continuation
Testing: Volume decreasing positive for continuing bracket
Testing: Volume increasing positive for trending
Testing: Volume stable positive for continuing bracket
Trending: Volume decreasing positive for change
Trending: Volume increasing positive for continuation
Trending: Volume stable positive for continuation if volume high
Trending: Volume stable positive for change if volume low
Trend end: Volume decreasing positive for change
Trend end: Volume increasing positive for contin. of trend
Trend end: Volume stable positive for contin. of trend high vol
Trend end: Volume stable positive for change of trend low vol