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Charting Market Turning Points - A Worksheet

If you want to improve your bottom line day trading the S&P 500, a good question to ask yourself, is: "When does price change and how far does it move?" Remember, crowd behavior repeats itself and is far less variable than individual behavior. We have found the following technique to be one of the most potent for determining turning points in the S&P 500. Our Cycle Timing System is a refinement of an ongoing study of market turns using this same principle.

The diagram below shows a form used to chart Market Turning Points. Download and print the attached table and feel free to copy it in its unaltered form. Use this form to go through price action on a daily basis, noting the turning points and how far price moves. Look for correlation's and similarities. This is an ideal way to get an excellent overview of price action and you may discover some amazing "coincidences." Here are some questions to ask yourself:

1. Does price want to move in a hurry? When?
2. Does the market want to trend?
3. How far does price move in the first 15 minutes?
4. Where are traders placing their stops?
5. Where is the opening in relation to the close?

Here is a valuable tip: Market tops and bottoms are made very quickly - only a few are able to participate. The period of time that the market trades at a given price will decide whether price will continue or reverse.

Print Turning Points Chart      Printable version (PDF format)