Stocks & Commodities V. 29:3 (54-57): Product Review: MarketGuage: Big View by Dennis D. Peterson
Product Description
Product Review: MarketGuage: Big View by Dennis D. Peterson
Big View is part of an ensemble of trading information from MarketGauge, available as a standalone package for $49/month. The last review of MarketGauge covered the Swing Trading course and the follow-on Mastery Program. The Mastery Program has a menu item called Big View, but MarketGauge actually refers to that item as Little Big View. To sort this out, let’s take a quick look at Little Big View and then spend the bulk of the discussion on Big View.
LITTLE BIG VIEW
Little Big View is more of a summary, especially when you look at the Market Outlook Screen (Figure 1). The purpose is to give the trader an idea of what direction the market might be moving. Sometimes it takes a moment to digest it all. For example, in the lower section of Figure 1,“Today’s Gauges By Category,” contrary opinion is only slightly bearish which, combined with all of the gauges of this screen, is pointing to a market that we would expect to be bullish.
When I first started trading in 1999, these MarketGauge indicators are the ones I used to trade marketwide items like the Qqqqs or the Standard & Poor’s 500. Using market breadth indicators to trade marketwide tradables has only gotten better with the introduction of such items as Qid, which is the inverse of the Qqqqs, but it moves twice as fast. Trading it is not for the faint of heart, especially if you are looking at five-minute bars. The saying “You should only trade what you can only afford to lose” comes to mind because if you get emotionally attached to your money, you can easily lose even more.
Big View is part of an ensemble of trading information from MarketGauge, available as a standalone package for $49/month. The last review of MarketGauge covered the Swing Trading course and the follow-on Mastery Program. The Mastery Program has a menu item called Big View, but MarketGauge actually refers to that item as Little Big View. To sort this out, let’s take a quick look at Little Big View and then spend the bulk of the discussion on Big View.
LITTLE BIG VIEW
Little Big View is more of a summary, especially when you look at the Market Outlook Screen (Figure 1). The purpose is to give the trader an idea of what direction the market might be moving. Sometimes it takes a moment to digest it all. For example, in the lower section of Figure 1,“Today’s Gauges By Category,” contrary opinion is only slightly bearish which, combined with all of the gauges of this screen, is pointing to a market that we would expect to be bullish.
When I first started trading in 1999, these MarketGauge indicators are the ones I used to trade marketwide items like the Qqqqs or the Standard & Poor’s 500. Using market breadth indicators to trade marketwide tradables has only gotten better with the introduction of such items as Qid, which is the inverse of the Qqqqs, but it moves twice as fast. Trading it is not for the faint of heart, especially if you are looking at five-minute bars. The saying “You should only trade what you can only afford to lose” comes to mind because if you get emotionally attached to your money, you can easily lose even more.
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