MULTI-TIME PERIOD CHARTS - MTPC - New Charting Capability!
MULTI-TIME PERIOD CHARTS - MTPC
Brand New Charting Capability with TradingView
Search "Indicators: Built-Ins" for "Multi-Time"
You can easily see the annual range on the yearly chart, together with the monthly ranges to see how the market moves within the year. I like to see the range for the entire year and see how the years stack up against each other. The box colors are based on "closes" only. You can change the colors to whatever you like.
One simple observation:
The last bar of the year tends to lead to carry through momentum into the next year. If December is at the top-right corner of the box, then look for more upside into the following year. Out of 9 years, the market closed in the top-right corner 5 times and carried through for the next 4 months every time.
You can easily see how the so called "January barometer" doesn't really work all that well. The January Barometer is a widely discussed pattern that looks for "Whatever happens in January is what happens for the year. So, if January is 'up' then the year will be 'up' and if January is 'down' then the year will be down. Well, it is easy to see that it is not very accurate. If January is red (down month), then the year should be red. Or if January is green (up month), then the year should be green. Let's review them back to 2009. Only 2 right out of 6.
2009 - fake out - Red Jan, Green Year
2010 - fake out - Red Jan, Green Year
2011 - fake out - Green Jan, Red Year
2012 - ok
2013 - ok
2014 - fake out, so far - Red Jan, Green Year
You can do quarterly charts too by adding another MTPC indicator so you can see how each stock performs going into "quarter-end" window dressing periods where portfolio managers buy or sell stocks to show owning the popular stocks on their next portfolio report. If you see weakness into quarter end, perhaps portfolio managers are selling to get rid of it. With this chart display it will be easy for you to find the patterns in the behavior of your stock and help you pick low-risk entries and exits.
Any questions? Just ask!
Tim 8:42AM EST 12/5/2014
Brand New Charting Capability with TradingView
Search "Indicators: Built-Ins" for "Multi-Time"
You can easily see the annual range on the yearly chart, together with the monthly ranges to see how the market moves within the year. I like to see the range for the entire year and see how the years stack up against each other. The box colors are based on "closes" only. You can change the colors to whatever you like.
One simple observation:
The last bar of the year tends to lead to carry through momentum into the next year. If December is at the top-right corner of the box, then look for more upside into the following year. Out of 9 years, the market closed in the top-right corner 5 times and carried through for the next 4 months every time.
You can easily see how the so called "January barometer" doesn't really work all that well. The January Barometer is a widely discussed pattern that looks for "Whatever happens in January is what happens for the year. So, if January is 'up' then the year will be 'up' and if January is 'down' then the year will be down. Well, it is easy to see that it is not very accurate. If January is red (down month), then the year should be red. Or if January is green (up month), then the year should be green. Let's review them back to 2009. Only 2 right out of 6.
2009 - fake out - Red Jan, Green Year
2010 - fake out - Red Jan, Green Year
2011 - fake out - Green Jan, Red Year
2012 - ok
2013 - ok
2014 - fake out, so far - Red Jan, Green Year
You can do quarterly charts too by adding another MTPC indicator so you can see how each stock performs going into "quarter-end" window dressing periods where portfolio managers buy or sell stocks to show owning the popular stocks on their next portfolio report. If you see weakness into quarter end, perhaps portfolio managers are selling to get rid of it. With this chart display it will be easy for you to find the patterns in the behavior of your stock and help you pick low-risk entries and exits.
Any questions? Just ask!
Tim 8:42AM EST 12/5/2014
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