Tom de mark sequential monitor for nifty50 stocks

PreSap

Well-Known Member
View attachment 44294

JD bhai, for trading setups we just count 9's.
so every day, draw line from close 4 days ago and see how the current day behaves around it.

Why 4? In TD setup count, we check the close 4 bars ago. This essentially is like a rolling week.
so if there were no holidays, we are checking Weds action compared to previous week Tue's close.

This helps in sideways mkt to see where longs/shorts are holding. In trending days, even PDH/PDL is enough.
Hello @travi sir,

Is there a typo in the statement “ Weds action compared to previous week Tue's close.”

Should it actually be ‘previous week Thursday’s close’
 

travi

Well-Known Member
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Not to sound overly bearish but the TD sell setup had hit SL twice i think and in that context next support level is in that context so not impossible.
Only 10300 is a point from where mkt had got into a setup and run up. Thats a TDST support.

The previous area around 21/22 Jul where mkt showed signs of topping out failed and it almost took me for a ride too.
I remember telling ST sir, correction might be deeper, we had 4 days of correction but mkt reversed from there. He told me signal may have come but momentum was pretty strong and it might be a small dip to buy. He was right then.

This time due to the same fierce nature (bullish) I preferred PE's in last 2 dips but today's PA can warrant opening bloody shorts :D so its either 10800 holding or the next lower level.
 

travi

Well-Known Member
still 5 more candles counts to complete 9.
I wish 10300 pe ruk jaye nahi to fir 10k
hope so, as i posted here. The God of this system had spoken well in advance before anyone and called a top :D

For the record,
Tom DeMark Sees S&P 500 Rallying Toward 3,500 Before Topping Out

https://www.bloomberg.com/amp/news/...-500-rallying-toward-3-500-before-topping-out

This was published on 21-jul around 4 weeks ago when s&p500 was at 3200 and roughly 7% to 3486.
As of today, its done a high of 3450
 

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