Hi --- I am a newbie and currently subscribe to the Research Center. On the 10 min charts you refer to the River Theory and the Theory of Confirmation which I fully understand. Question -- Are these same two proprietary theories applicable on the daily charts? THANK YOU and PLEASE HAVE A GREAT DAY. Doug H.
Thanks for the question. Yes, all our methodology works on all time frames. A great example of the River Theory on the daily chart would be Nokia (NOK). Note the chart below.
An example of the confirmation signal on the daily chart would be JPMorgan Chase (JPM). If confirms twice to the downside. The first time, below the 20ma and the 50ma. After confirming below, the short is after it retraces back to those two moving averages (confirmated level). You can see the results of that confirmation play as the stock collapses lower. The second time is confirmation below the 200ma. Again, after confirming below the 200ma, it retraces back up to it (confirmed level). That now is the short. The results again are great.
Keep up the good work!
Chief Market Strategist