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Becoming A Yoga Teacher In Your Semi-Retirement

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Introducción a los Renko charts según Jose Luis Cases Lozano

Introducción a los Renko charts según Jose Luis Cases Lozano

Inventado en Japón, los gráficos de Renko ignoran el tiempo y se centran solamente en los cambios de costo que cumplen un requisito mínimo. En este sentido, estos gráficos son bastante afines a los gráficos de Punto y Figura. En lugar de columnas X y O bien, los gráficos de Renko emplean "ladrillos" de costos que representan un movimiento de costes fijos. Estos ladrillos se denominan a veces "bloques" o "cajas". Se mueven hacia arriba o cara abajo en líneas de 45 grados con un ladrillo por columna vertical. Los ladrillos para movimientos de costos ascendentes son huecos al paso que los ladrillos para movimientos de costos descendentes están repletos de un color sólido (típicamente negro).

Construcción y peculiaridades

Los gráficos de Renko se fundamentan en ladrillos con un valor fijo que filtra los pequeños movimientos de los precios. Un gráfico regular de barras, líneas o velas tiene un eje de fechas uniforme con días, semanas y meses del mismo modo separados. Esto es debido a que hay un punto de datos por día o semana. Los gráficos de Renko ignoran el aspecto temporal y solo se centran en los cambios de costo. Si el valor del ladrillo se fija en diez puntos, se requiere un movimiento de 10 puntos o más para dibujar otro ladrillo. Los movimientos de costo menores de 10 puntos serían ignorados y el gráfico de Renko permanecería sin cambios.

Utilizando el gráfico Renko de 10 puntos del S&P 500 como ejemplo, un nuevo ladrillo de Renko no se dibujaría si el S&P quinientos estuviese en 1840 y avanzara 9 puntos hasta 1849. Si el S&P 500 avanzaba a mil ochocientos cincuenta al día después, se dibujaría un nuevo ladrillo de Renko por el hecho de que todo el movimiento era de al menos diez puntos. Este ladrillo se extendería desde 1840 hasta mil ochocientos cincuenta y sería hueco, o blanco en este caso de ejemplo. Alternativamente, si el S&P 500 declinó de 1840 a mil ochocientos treinta, un nuevo ladrillo de Renko sería extraído y sería sólido, o bien negro en este caso.

Los dos gráficos de arriba cubren un periodo de seis meses, pero el gráfico de Renko muestra un eje de fechas irregular y la acción del precio es menos irregular. Esto es debido a que el gráfico del S&P 500 de Renko ignora los movimientos de los costes que son menores de diez puntos y continúa sin cambios hasta el momento en que hay un movimiento de por lo menos diez puntos.

Cerrar contra el rango alto-bajo

Los gráficos de Renko pueden fundamentarse en los precios de cierre o bien en el rango alto-bajo usando el ajuste de "campo" en SharpCharts. El coste de cierre quiere decir que hay un punto de datos por período y menos volatilidad. El rango alto-bajo pone en juego 2 puntos de datos y aumenta las fluctuaciones, lo que resulta en ladrillos añadidos. Los ejemplos de abajo muestran gráficos de Renko para el S&P quinientos y el tamaño de la caja se establece en 10 puntos para los dos. El primer gráfico se basa en los costes de cierre y el segundo en el rango alto-bajo. Aprecien que el gráfico de Renko basado en el rango alto-bajo fluctúa más que el gráfico de Renko de sólo cierre.

Valor fijo contra ATR

Los artistas pueden utilizar los ajustes de la "caja" para establecer el tamaño del ladrillo como un valor concreto o como el Promedio Verdadero del Rango (ATR). Un valor puntual específico quiere decir que el tamaño del ladrillo permanecerá constante aun cuando se incorporen nuevos datos al gráfico. En otras palabras, se agregan nuevos datos de costes todos los días de operaciones y el tamaño del ladrillo continuará constante. Los dos gráficos anteriores tienen un valor fijo y cada ladrillo representa diez puntos.

A diferencia de los ladrillos de coste fijo, el uso de los valores ATR da como resultado los tamaños fluctuantes de los ladrillos. El ATR por defecto se basa en 14 períodos y el Promedio del Rango Verdadero fluctúa con el tiempo. El tamaño del ladrillo se basa en el valor de ATR en el instante en que se crea el gráfico. Si el valor de ATR cambia al día después, entonces este nuevo valor ATR se usará para establecer el tamaño del ladrillo. Tenga presente asimismo que los valores de ATR se basan en los gráficos estándar, como los de solo cierre, los de barra y los de velas. Estos gráficos tienen un punto de datos por período y un eje x uniforme (eje de la fecha). El valor ATR que se muestra en estos gráficos puede diferir del valor de ladrillo ATR de un gráfico Renko debido a inconvenientes de redondeo.

Los 2 ejemplos siguientes muestran de qué manera cambia el valor ATR cuando cambia la fecha del gráfico final. El primer gráfico termina el diez de junio y el valor ATR es doce con cinco, que es el valor de cada ladrillo de Renko. El segundo gráfico acaba el quince de abril y el valor ATR es veinte y cincuenta y cinco, que es el valor de cada ladrillo de Renko. Observen de qué manera el valor del ladrillo cambió al cambiar el valor de ATR. Los ladrillos del quince de abril tienen un valor considerablemente más alto que los del 10 de junio.

Tendencias, Soporte y Resistencia

Los ladrillos blancos Obtenga más información se forman cuando los precios suben una cierta cantidad y los ladrillos negros se forman cuando los precios bajan una cierta cantidad. La imagen de abajo muestra un gráfico diario del S&P 500 con ladrillos de 10 puntos y un promedio móvil simple de diez periodos. Note que el cálculo de un promedio móvil de diez períodos se fundamenta en los últimos diez valores de Renko, no en los últimos diez días de comercio. Un indicador en un gráfico de Renko se fundamenta en los valores de Renko y diferirá del mismo indicador en un gráfico de barras. Los artistas pueden emplear típicamente promedios móviles más cortos en los gráficos de Renko pues los movimientos de costos más pequeños han sido filtrados.

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Introducción a los Renko charts según Jose Luis Cases

Introducción a los graficos renko según Jose Luis Cases Lozano

Inventado en Japón, los gráficos de Renko ignoran el tiempo y se centran solamente en los cambios de coste que cumplen un requisito mínimo. En este sentido, estos gráficos son bastante afines a los gráficos de Punto y Figura. En lugar de columnas X y O bien, los gráficos de Renko utilizan "ladrillos" de precios que representan un movimiento de costes fijos. Estos ladrillos se denominan a veces "bloques" o bien "cajas". Se mueven cara arriba o bien cara abajo en líneas de cuarenta y cinco grados con un ladrillo por columna vertical. Los ladrillos para movimientos de precios ascendientes son huecos mientras que los ladrillos para movimientos de costes descendentes están llenos de un color sólido (típicamente negro).

Construcción y características

Los gráficos de Renko se basan en ladrillos con un valor fijo que filtra los pequeños movimientos de los costes. Un gráfico regular de barras, líneas o bien velas tiene un eje de fechas uniforme con días, semanas y meses del mismo modo apartados. Esto es debido a que hay un punto de datos por día o bien semana. Los gráficos de Renko ignoran el aspecto temporal y solo se centran en los cambios de coste. Si el valor del ladrillo se fija en diez puntos, se requiere un movimiento de diez puntos o bien más para dibujar otro ladrillo. Los movimientos de precio menores de 10 puntos serían ignorados y el gráfico de Renko permanecería sin cambios.

Usando el gráfico Renko de diez puntos del S&P quinientos como un ejemplo, un nuevo ladrillo de Renko no se dibujaría si el S&P 500 estuviese en 1840 y avanzara 9 puntos hasta mil ochocientos cuarenta y nueve. Si el S&P 500 avanzaba a 1850 al día después, se dibujaría un nuevo ladrillo de Renko por el hecho de que todo el movimiento era de cuando menos 10 puntos. Este ladrillo se extendería desde mil ochocientos cuarenta hasta mil ochocientos cincuenta y sería hueco, o bien blanco en este caso de ejemplo. Alternativamente, si el S&P quinientos rechazó de mil ochocientos cuarenta a mil ochocientos treinta, un nuevo ladrillo de Renko sería extraído y sería sólido, o bien negro en este caso de ejemplo.

Los 2 gráficos de arriba cubren un periodo de 6 meses, pero el gráfico de Renko muestra un eje de datas irregular y la acción del coste es menos irregular. Esto se debe a que http://novatolukas3.yousher.com/la-relacion-de-ganancia-y-perdida-en-daytrading-por-jose-luis-cases-trader el gráfico del S&P 500 de Renko ignora los movimientos de los precios que son menores de 10 puntos y continúa sin cambios hasta que hay un movimiento de cuando menos 10 puntos.

Cerrar contra el rango alto-bajo

Los gráficos de Renko pueden basarse en los costes de cierre o bien en el rango alto-bajo utilizando el ajuste de "campo" en SharpCharts. El costo de cierre quiere decir que hay un punto de datos por período y menos volatilidad. El rango alto-bajo pone en juego 2 puntos de datos y aumenta las fluctuaciones, lo que resulta en ladrillos añadidos. Los ejemplos de abajo muestran gráficos de Renko para el S&P quinientos y el tamaño de la caja se establece en 10 puntos para los dos. El primer gráfico se basa en los precios de cierre y el segundo en el rango alto-bajo. Aprecien que el gráfico de Renko basado en el rango alto-bajo oscila más que el gráfico de Renko de sólo cierre.

Valor fijo versus ATR

Los artistas pueden emplear los ajustes de la "caja" para establecer el tamaño del ladrillo como un valor concreto o bien como el Promedio Auténtico del Rango (ATR). Un valor puntual específico significa que el tamaño del ladrillo continuará constante aun cuando se incorporen nuevos datos al gráfico. En otras palabras, se añaden nuevos datos de precios todos y cada uno de los días de operaciones y el tamaño del ladrillo continuará incesante. Los 2 gráficos anteriores tienen un valor fijo y cada ladrillo representa diez puntos.

En contraste a los ladrillos de precio fijo, el empleo de los valores ATR da como resultado los tamaños fluctuantes de los ladrillos. El ATR por defecto se fundamenta en catorce periodos y el Promedio del Rango Auténtico oscila con el tiempo. El tamaño del ladrillo se basa en el valor de ATR en el momento en que se crea el gráfico. Si el valor de ATR cambia al día después, entonces este nuevo valor ATR se usará para establecer el tamaño del ladrillo. Tenga presente también que los valores de ATR se fundamentan en los gráficos estándar, como los de solo cierre, los de barra y los de candelas. Estos gráficos tienen un punto de datos por período y un eje x uniforme (eje de la data). El valor ATR que se muestra en estos gráficos puede diferir del valor de ladrillo ATR de un gráfico Renko debido a inconvenientes de redondeo.

Los 2 ejemplos siguientes muestran cómo cambia el valor ATR cuando cambia la fecha del gráfico final. El primer gráfico termina el diez de junio y el valor ATR es doce con cinco, que es el valor de cada ladrillo de Renko. El segundo gráfico termina el quince de abril y el valor ATR es 20.55, que es el valor de cada ladrillo de Renko. Observen cómo el valor del ladrillo cambió al mudar el valor de ATR. Los ladrillos del 15 de abril tienen un valor mucho más alto que los del 10 de junio.

Tendencias, Soporte y Resistencia

Los ladrillos blancos se forman cuando los precios suben una cierta cantidad y los ladrillos negros se forman cuando los costes bajan una cierta cantidad. La imagen de abajo muestra un gráfico diario del S&P quinientos con ladrillos de 10 puntos y un promedio móvil simple de 10 períodos. Note que el cálculo de un promedio móvil de diez períodos se fundamenta en los últimos diez valores de Renko, no en los últimos diez días de comercio. Un indicador en un gráfico de Renko se fundamenta en los valores de Renko y diferirá del mismo indicador en un gráfico de barras. Los artistas pueden utilizar típicamente promedios móviles más cortos en los gráficos de Renko pues los movimientos de costes más pequeños han sido filtrados.

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LESSON 2: Relative Strength Index (RSI)

Note:

We can across this article on http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:relative_strength_index_rsi and thought it was invaluable for new traders and there development. Please feel free to visit there website for more information. We will be doing some short training videos shortly in relation to RSI and Stochastic Oscillator.

Introduction

Developed J. Welles Wilder, the Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Traditionally, and according to Wilder, RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings and centerline crossovers. RSI can also be used to identify the general trend.

RSI is an extremely popular momentum indicator that has been featured in a number of articles, interviews and books over the years. In particular, Constance Brown's book, Technical Analysis for the Trading Professional, features the concept of bull market and bear market ranges for RSI. Andrew Cardwell, Brown's RSI mentor, introduced positive and negative reversals for RSI. In addition, Cardwell turned the notion of divergence, literally and figuratively, on its head.

Wilder features RSI in his 1978 book, New Concepts in Technical Trading Systems. This book also includes the Parabolic SAR, Average True Range and the Directional Movement Concept (ADX). Despite being developed before the computer age, Wilder's indicators have stood the test of time and remain extremely popular.

Calculation

                 100    RSI = 100 - --------                 1 + RS    RS = Average Gain / Average Loss

To simplify the calculation explanation, RSI has been broken down into its basic components: RS, Average Gain and Average Loss. This RSI calculation is based on 14 periods, which is the default suggested by Wilder in his book. Losses are expressed as positive values, not negative values.

The very first calculations for average gain and average loss are simple 14 period averages.

First Average Gain = Sum of Gains over the past 14 periods / 14.

First Average Loss = Sum of Losses over the past 14 periods / 14

The second, and subsequent, calculations are based on the prior averages and the current gain loss:

Average Gain = [(previous Average Gain) x 13 + current Gain] / 14.

Average Loss = [(previous Average Loss) x 13 + current Loss] / 14.

Taking the prior value plus the current value is a smoothing technique similar to that used in exponential moving average calculation. This also means that RSI values become more accurate as the calculation period extends. SharpCharts uses at least 250 data points prior to the starting date of any chart (assuming that much data exists) when calculating its RSI values. To exactly replicate our RSI numbers, a formula will need at least 250 data points.

Wilder's formula normalizes RS and turns it into an oscillator that fluctuates between zero and 100. In fact, a plot of RS looks exactly the same as a plot of RSI. The normalization step makes it easier to identify extremes because RSI is range bound. RSI is 0 when the Average Gain equals zero. Assuming a 14-period RSI, a zero RSI value means prices moved lower all 14 periods. There were no gains to measure. RSI is 100 when the Average Loss equals zero. This means prices moved higher all 14 periods. There were no losses to measure.

Here's an Excel Spreadsheet that shows the start of an RSI calculation in action.

Note: The smoothing process affects RSI values. RS values are smoothed after the first calculation. Average Loss equals the sum of the losses divided by 14 for the first calculation. Subsequent calculations multiply the prior value by 13, add the most recent value and then divide the total by 14. This creates a smoothing affect. The same applies to Average Gain. Because of this smoothing, RSI values may differ based on the total calculation period. 250 periods will allow for more smoothing than 30 periods and this will slightly affect RSI values. Stockcharts.com goes back 250-days when possible. If Average Loss equals zero, a “divide by zero” situation occurs for RS and RSI is set to 100 by definition. Similarly, RSI equals 0 when Average Gain equals zero.

Parameters

The default look-back period for RSI is 14, but this can be lowered to increase sensitivity or raised to decrease sensitivity. 10-day RSI is more likely to reach overbought or oversold levels than 20-day RSI. The look-back parameters also depend on a security's volatility. 14-day RSI for internet retailer Amazon (AMZN) is more likely to become overbought or oversold than 14-day RSI for Duke Energy (DUK), a utility.

RSI is considered overbought when above 70 and oversold when below 30. These traditional levels can also be adjusted to better fit the security or analytical requirements. Raising overbought to 80 or lowering oversold to 20 will reduce the number of overbought/oversold readings. Short-term traders sometimes use 2-period RSI to look for overbought readings above 80 and oversold readings below 20.

Overbought-Oversold

Wilder considered RSI overbought above 70 and oversold below 30. Chart 3 shows McDonalds with 14-day RSI. This chart features daily bars in gray with a 1-day SMA in pink to highlight closing prices because RSI is based on closing prices. Working from left to right, the stock became oversold in late July and found support around 44 (1). Notice that the bottom evolved after the oversold reading. The stock did not bottom as soon as the oversold reading appeared. Bottoming can be a process. From oversold levels, RSI moved above 70 in mid September to become overbought. Despite this overbought reading, the stock did not decline. Instead, the stock stalled for a couple weeks and then continued higher. Three more overbought readings occurred before the stock finally peaked in December (2). Momentum oscillators can become overbought (oversold) and remain so in a strong up (down) trend. The first three overbought readings foreshadowed consolidations. The fourth coincided with a significant peak. RSI then moved from overbought to oversold in January. The final bottom did not coincide with the initial oversold reading as the stock ultimately bottomed a few weeks later around 46 (3).

Like many momentum oscillators, overbought and oversold readings for RSI work best when prices move sideways within a range. Chart 4 shows MEMC Electronics (WFR) trading between 13.5 and 21 from April to September 2009. The stock peaked soon after RSI reached 70 and bottomed soon after the stock reached 30.

Divergences

According to Wilder, divergences signal a potential reversal point because directional momentum does not confirm price. A bullish divergence occurs when the underlying security makes a lower low and RSI forms a higher low. RSI does not confirm the lower low and this shows strengthening momentum. A bearish divergence forms when the security records a higher high and RSI forms a lower high. RSI does not confirm the new high and this shows weakening momentum. Chart 5 shows Ebay (EBAY) with a bearish divergence in August-October. The stock moved to new highs in September-October, but RSI formed lower highs for the bearish divergence. The subsequent breakdown in mid October confirmed weakening momentum.

A bullish divergence formed in January-March. The bullish divergence formed with Ebay moving to new lows in March and RSI holding above its prior low. RSI reflected less downside momentum during the February-March decline. The mid March breakout confirmed improving momentum. Divergences tend to be more robust when they form after an overbought or oversold reading.

Before getting too excited about divergences as great trading signals, it must be noted that divergences are misleading in a strong trend. A strong uptrend can show numerous bearish divergences before a top actually materializes. Conversely, bullish divergences can appear in a strong downtrend - and yet the downtrend continues. Chart 6 shows the S&P 500 ETF (SPY) with three bearish divergences and a continuing uptrend. These bearish divergences may have warned of a short-term pullback, but there was clearly no major trend reversal.

Failure Swings

Wilder also considered failure swings as strong indications of an impending reversal. Failure swings are independent of price action. In other words, failure swings focus solely on RSI for signals and ignore the concept of divergences. A bullish failure swing forms when RSI moves below 30 (oversold), bounces above 30, pulls back, holds above 30 and then breaks its prior high. It is basically a move to oversold levels and then a higher low above oversold levels. Chart 7 shows Research in Motion (RIMM) with 10-day RSI forming a bullish failure swing.

A bearish failure swing forms when RSI moves above 70, pulls back, bounces, fails to exceed 70 and then breaks its prior low. It is basically a move to overbought levels and then a lower high below overbought levels. Chart 8 shows Texas Instruments (TXN) with a bearish failure swing in May-June 2008.

Trend ID

In Technical Analysis for the Trading Professional, Constance Brown suggests that oscillators do not travel between 0 and 100. This also happens to be the name of the first chapter. Brown identifies a bull market range and a bear market for RSI. RSI tends to fluctuate between 40 and 90 in a bull market (uptrend) with the 40-50 zones acting as support. These ranges may vary depending on RSI parameters, strength of trend and volatility of the underlying security. Chart 9 shows 14-week RSI for SPY during the bull market from 2003 until 2007. RSI surged above 70 in late 2003 and then moved into its bull market range (40-90). There was one overshoot below 40 in July 2004, but RSI held the 40-50 zone at least five times from January 2005 until October 2007 (green arrows). In fact, notice that pullbacks to this zone provided low risk entry points to participate in the uptrend.

On the flip side, RSI tends to fluctuate between 10 and 60 in a bear market (downtrend) with the 50-60 zone acting as resistance. Chart 10 shows 14-day RSI for the US Dollar Index ($USD) during its 2009 downtrend. RSI moved to 30 in March to signal the start of a bear range. The 40-50 zone subsequently marked resistance until a breakout in December.

Positive-Negative Reversals

Andrew Cardwell developed positive and negative reversals for RSI, which are the opposite of bearish and bullish divergences. Cardwell's books are out of print, but he does offer seminars detailing these methods. Constance Brown credits Andrew Cardwell for her RSI enlightenment. Before discussing the reversal technique, it should be noted that Cardwell's interpretation of divergences differs from Wilder. Cardwell considered bearish divergences as bull market phenomenon. In other words, bearish divergences are more likely to form in uptrends. Similarly, bullish divergences are considered bear market phenomenon indicative of a downtrend.

A positive reversal forms when RSI forges a lower low and the security forms a higher low. This lower low is not at oversold levels, but usually somewhere between 30 and 50. Chart 11 shows MMM with a positive reversal forming in June 2009. MMM broke resistance a few weeks later and RSI moved above 70. Despite weaker momentum with a lower low in RSI, MMM held above its prior low and showed underlying strength. In essence, price action overruled momentum.

A negative reversal is the opposite of a positive reversal. RSI forms a higher high, but the security forms a lower high. Again, the higher high is usually just below overbought levels in the 50-70 area. Chart 12 shows Starbucks (SBUX) forming a lower high as RSI forms a higher high. Even though RSI forged a new high and momentum was strong, the price action failed to confirm as lower high formed. This negative reversal foreshadowed the big support break in late June and sharp decline.

Conclusions

RSI is a versatile momentum oscillator that has stood the test of time. Despite changes in volatility and the markets over the years, RSI remains as relevant now as it was in Wilder's days. While Wilder's original interpretations are useful to understanding the indicator, the work of Brown and Cardwell takes RSI interpretation to a new level. Adjusting to this level takes some rethinking on the part of the traditionally schooled chartists. Wilder considers overbought conditions ripe for a reversal, but overbought can also be a sign of strength. Bearish divergences still produce some good sell signals, but chartists must be careful in strong trends when bearish divergences are actually normal. Even though the concept of positive and negative reversals may seem to undermine Wilder's interpretation, the logic makes sense and Wilder would hardly dismiss the value of putting more emphasis on price action. Positive and negative reversals put price action of the underlying security first and the indicator second, which is the way it should be. Bearish and bullish divergences place the indicator first and price action second. By putting more emphasis on price action, the concept of positive and negative reversals challenges our thinking towards momentum oscillators.

Using with SharpCharts

RSI is available as an indicator for SharpCharts. Once selected, users can place the indicator above, below or behind the underlying price plot. Placing RSI directly on top of the price plot accentuates the movements relative to price action of the underlying security. Users can apply “advanced options” to smooth the indicator with a moving average or add a horizontal line to mark overbought or oversold levels.

Suggested Scans

RSI Oversold in Uptrend

This scan reveals stocks that are in an uptrend with oversold RSI. First, stocks must be above their 200-day moving average to be in an overall uptrend. Second, RSI must cross below 30 to become oversold.

[type = stock] AND [country = US] AND [Daily SMA(20,Daily Volume) > 40000] AND [Daily SMA(60,Daily Close) > 20] AND [Daily Close > Daily SMA(200,Daily Close)] AND [Daily RSI(5,Daily Close) <= 30]

RSI Overbought in Downtrend

This scan reveals stocks that are in a downtrend with overbought RSI turning down. First, stocks must be below their 200-day moving average to be in an overall downtrend. Second, RSI must cross above 70 to become overbought.

[type = stock] AND [country = US] AND [Daily SMA(20,Daily Volume) > 40000] AND [Daily SMA(60,Daily Close) > 20] AND [Daily Close < Daily SMA(200,Daily Close)] AND [Daily RSI(5,Daily Close) >= 70]

For more details on the syntax to use for RSI scans, please see our Scanning Indicator Reference in the Support Center.

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[otcsocialnetwork]

Reply To: Signal Bay Inc Reports First Quarter 2017 Results +OTCQB Certification

Not to mention Volume was 12,129,833 Today vs Average 30 Day Volume At 38,032. 100% #Bullish. Huge Room Here @ipoguy @killerwhalestock @wade @bottomwatcher @bigsmith Tomorrow we will see an increase anywhere from 25-125% . Dollars to Donuts get your butts in on this boys. (RealTime) SGBY – SharpChart SGBY Signal Bay Inc. – SharpChart from StockCharts.com (Historic To Prove My Point) I'm Billspaid. Ask me anything. Attachments: You must be logged in to view attached files. http://dlvr.it/NxkC8M

[petero1298]

Most of us are aware of the tracking error between oil and the US Oil Fund. There is indeed a tracking error, but a few charts reveal that this tracking error is subject to fluctuations and can even remain stable for extended periods. Today I will show how to measure tracking errors between ETFs and the underlying asset. Gold and oil will be used for examples, but these techniques can be applied to any ETF and its underlying asset, be it an index or commodity.

There are two ways to chart the tracking error between an ETF and the underlying asset. Chartists can use a Performance SharpChart to compare the percentage change over time or chartists can plot a ratio to measure the relative performance. We must also choose between the most active futures contract and the continuous futures contract. As a general rule of thumb, I would defer to the most active futures contract when making a comparison. Continuous contracts work well for most metals and currencies, but do not work well for energy-related commodities, such as oil and natural gas. Note that continuous contracts are created by stitching together individual futures contracts.

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The Best Five Sectors, #27 | RRG Charts

KEY TAKEAWAYS Materials sector climbs to #5 in rankings, displacing Utilities. Technology maintains leadership, but Communication Services and Financials show weakness. Daily RRG reveals potential for Materials, caution needed for Comm Services and Financials. Portfolio drawdown continues, currently 8% behind S&P 500 YTD. After a relatively quiet week for the S&P 500, we’re seeing some…

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Bitcoin Just Smashed $112K—Is a Surge to 124K Next? | ChartWatchers

KEY TAKEAWAYS $BTCUSD recently broke above critical resistance at $112k. Historically, the crypto has made significant moves after clearing a prolonged period of sideways trading. It’s time to set upside and downside targets—key levels we discuss below. Bitcoin ($BTCUSD) is riding a wave of surging optimism, smashing past $112k as retail and institutional capital pour into the cryptocurrency.…

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From Hammer to Harami: Using StockCharts to Crack the Candlestick Code | The Mindful Investor

About the author: David KellerCMT is President and Chief Strategist at Sierra Alpha Research LLC, where he helps active investors make better decisions using behavioral finance and technical analysis. Dave is a CNBC Contributor, and he recaps market activity and interviews leading experts on his “Market Misbehavior” YouTube channel. A former President of the CMT Association, Dave is also a member…

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Tech Takes the Spotlight Again—Are You Watching These Stocks? | ChartWatchers

KEY TAKEAWAYS Tech stocks, especially semiconductors, continue to lead the stock market higher. Semiconductors are showing strong technical momentum. With StockCharts, you can create custom ChartLists of semiconductor stocks by drilling down through the Technology sector. Relatively healthy earnings reports from the big banks and a June inflation report that came in line with analyst…