Article #5 Forecasting the S&P500 emini 60min chart

In this article I am going to be discussing how to use the MarketWarrior 5 automatic forecasts for the S&P500 E-mini. The MarketWarrior 5 software has an automatic forecasting tool that can forecast the 5 minute or 60 minute chart for the S&P500 E-mini. I am using the DTN IQFeed symbol @ES#. The charts below will be discussing the forecast for June 9, 2015. This article is a continuation of previous post labeled Article #4.

When using the automatic forecast for the 60 minute chart I will review the forecast once a day. If the forecast is working I will leave the forecast as it is. If the forecast has not been as accurate as I would like, I will click the recalculate button and recalculate the forecast. There are no settings for this forecast. There is just one button to recalculate the forecast. Based on what I saw in the over night session between June 8 and June 9 I decided to recalculate the forecast. The first chart below shows the recalculated forecast. The recalculation was done at 9:05 AM ET.  I usually do the recalculations for the 60 minute chart forecast before the main trading session opens at 9:30 AM ET.

On the chart below I have drawn a red box labeled “Forecast Area”. This box is around June 9, 2015 and this is the focus of the forecast. For June 9, 2015 there is just one CIT forecast which is for 12:00 Noon ET at the price 2090.89. The next chart shows what happened.


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The picture below was taken at 10:21 PM ET and shows the price action for June 9, 2015. The forecast high CIT was for 12:00 Noon ET and the high for the day came in the 1:00 PM hour just one bar away from the forecast top. There was only one CIT forecast for June 9 and the forecast was accurate. The next step is to review the forecast after the over night trading session and repeat this process for June 10.

If you like the forecast below download the MarketWarrior 5 free trial and subscribe to the DTN IQFeed free trial and watch the forecasts on your own computer.


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