Intra-Day Update: Why isn’t the damn thing RED?

UPDATE 10:36am EST: I can appreciate your impatience, my dear leeches, but the zero doesn’t like the tape right now. Bear in mind that this indicator is supposed to tell us where the market is going, not where it has gone already. So, if we gap 40 points on the SPX it does factor that in, but that action already happened. Hope that makes sense to your small collection of neurons. I have put up the 30 minute version on the right side, and it doesn’t like this tape either. What can I say – either it knows something we don’t or it’s plain out wrong. So, don’t let this thing stop you if you feel strongly about a continued drop here.

But paleeezee stop with the ‘it’s not updating’ posts – it is updating and taking a screenshot once a minute. Just didn’t move – maybe go back and re-read my Sunday post. That longer term prospective didn’t kick in just yet, did it? Hopeless…

Anyway, here is the daily RL chart:

UPDATE 10:54am EST: Some of you might have noticed that the 30 minute version of the zero briefly swings below but is back into the green on the next update. Let me remind you guys that it needs to stay there at least 30 minutes in order to be permanent. So, even the impatient among you should heed this warning.

I did notice however how the NQ is leading the market today – the ES has been sideways for the last hour or so and the NQ keeps dropping steadily. Not looking good for tech…

UPDATE 12:40pm EST: I have removed the zero until I can fix the lag. It seems one of the TOS thinkscript functions is broken, which causes the obvious delay in painting the indicator. Apologies – I’m working on it – I know what’s going on, just need to find a way to fix it.

UPDATE 1:43pm EST: Okay, I think the zero is fixed now – you can blame my algebra – grrrr.. Bad news is that we might have missed out on a big move. Please don’t hurt me…. :-}

UPDATE 2:47pm EST: I put up a grid of four time frames – please vote on the poll on your right which one you guys prefer.

UPDATE 3:25pm EST: Some folks have been asking me for some ‘historical’ charts for the shorter term indicators. I can only go back 20 days and here are the screen grabs for those:

• 30 minute zero
• 15 minute zero (slightly smoothed)
• 5 minute zero (strongly smoothed)

UPDATE 3:44pm EST: I think we might bounce around 817 on the SPX – I would close out any short term puts before the close, or if we touch 817.

UPDATE Closing Bell: I made very little $$ today (just some DIA puts and that DLTR turtle soup trade from Friday) as I was busy finding that &%$@#* bug in the zero. See how dedicated I am to my leeches?? 😉

Anyway, I’m really sorry about it being broken in the morning when we needed it the most. But that’s what beta testing is all about. If nothing else it helped me figure out a bug in the calculation that caused the delayed update – unfortunately I had to do it during trading hours to make sure it worked. Anyway, let’s move forward and see if we can make this thing work for us. So far a lot of folks here like what they see – many thanks for giving it the benefit of the doubt. Your kind words and constructive criticism are appreciated – even that new kid Anon came around in the end.

BTW, I’m loving those retracement levels – we hit the one I thought would be the first serious candidate. Keep it up 2sweeties!!! Between the zero and the RLs we are unbeatable now 🙂

Berk will do the update tonight. He’s all pumped and ready to kick ass.