No doubt about it . .trading has been tough the last 2 weeks as volume has frequently fallen to a trickle and technical oscillators have gone into a kind of stupor. What continues to work for me is my old reliable VIXEN setup, shown here as it developed Tuesday on GE, my favorite daytrading and swing trading stock.
GE was a bit unique Tuesday, showing glimmers of strength early in day, which later turned into a solid surge all the way from the PP to the R2 pivot . . not an insignificant move. And, while GE only showed a volume of 48M Tuesday . . by comparison, the Qs only managed to eke out 32M shares, so there clearly was some accumulation going on.
The last hour fade down from R2 to R1 was pretty much in sync with the major indices, which actually showed the bulk of weakness during the last 30 minutes, when GE fell off the 62% fib line.
I’ve shown the actual entry point of the trade on 2 minute bars and then, in the lower chart, the full day report showing how the VIX cross migrated down the timescale 2 hours. So, while hindsight is a great teacher, the VIXEN trades require a rapid response in order to capitalize on the signals.
Also see: VIXEN gadget link