Swedish Main Index, Sweden OMX

[MR]

I received a request this week for a sample analysis on the Swedish main index. Below is a little work with comments typed on the chart. Let me know if it helps. -marc

[MR]

ERIC_B-SSE (Ericsson Stockholm) The heavyweight champion of the swedish stockmarket.... looking at the bigger weekly picture....

[MR]

Here is a shorter term ERIC_B-SSE (Ericsson Stockholm) Daily picture . . . . testing MOB resistance, wondering if it could be a bigger A-B-C pattern in progress??? The weekly shows limited resistance if the daily can eventually push through this MOB?

[MR]

When I talk about "cross referencing" in the past, we also can apply this principle to similar or same charts trading on different world-wide exchanges... here is an Ericsson Nasdaq monthly chart with more history to compare.... it can help add to the Swedish market analysis...

[rumpino]

nice charts!

big thanks for these ones!

[MR]

Rumpino, Thanks! There are more to come here!

Here is, for example, part two of ERICY... the weekly Nasdaq... superimpose overtop the Swedish traded ERIC_B-SSE Weekly chart and see how it picks up more detail....

[MR]

We looked at the monthly, then the weekly, now we build all this analysis into the daily ERICY, which we can also apply to the daily ERIC_B-SSE (Ericsson Stockholm) chart. SOme general comments are written to the chart. This is only a quick idea of how we might tie together everything. If time permitted, we would continue to build a better risk/reward picture using more technical analysis tools and studies.... (sincerely, Marc R.)

[rumpino]

very nice!

as a compliment i want to show you a technique i use in my trading, called fishnet.

it's built out of 200-220 MA's (in this pic 200)

different strucutures provides support/resistance, and they're dynamic.

i have painted in a channel (in white), which are very hard to spot sometimes, but those are powerful and often causes some kind of reaction. (you might to "back off" with your head to see it, like 1m from the screen)

first we have the weekly chart (with my prefered count)

[MR]

My total compliments! Believe it or not, but I totally can appreciate your chart. It is excellent! I play with something less sophisticated, but yours is the best I have seen so far. Thanks for sharing this. It has given me some more ideas to work with...

[rumpino]

and next chart is a daily fishnet which gives us some interesting areas to focus on, if we get there

regards/rumpino

[MR]

Rumpino... you made a friend today! I absolutely love your charts!!! Thanks so very much for sharing them here. They are excellent! I really mean it! - marc

[rumpino]

Originally posted by MarcRinehart
My total compliments! Believe it or not, but I totally can appreciate your chart. It is excellent! I play with something less sophisticated, but yours is the best I have seen so far. Thanks for sharing this. It has given me some more ideas to work with...

ow, that's very fun to hear!

i know that most of the fishnet traders use 215-220 MA's but my program just accepts 200 so that's why i have that.

i can fill this site with different fishnet chats and thoughts about this

my personal experiences are not so big with fishnet, but there are som "big fishers" in sweden who only (almost) uses this technique in their trading. i have it as one (big) part of my trading.

regards/rumpino

[MR]

I will do a little of my approach, and then see if your idea can improve our thinking independent of each other. Can you show what the fish net looks like with the following other charts? Thanks, marc --

HM_B-SSE (Hennes&Mauritz Stockholm) A company like GAP and ZARA also a main stock in sweden.
SKF_B-SSE (SKF AB) A big industrial company.
SWMA-SSE (Swedish Match) Cigarettes&Tobacco, often a good place to hide your money in when the bears are on the prowl.

[pq1]

Hi Marc ,it´s nice to see you digging in to the swedish market, but there´s a danger to do a "cross referencing" because Stockholm is the leading marketplace for ERIC and the $ has been losing ground against the swedish krona..

todays volume for example..
ERIC ~200,000,000 shares
ERICY~1,450,000*(ADR=10 SwShares)= 14,500,000
So the volume is ~13-14 times bigger in stockholm vs. nasdaq

So in my opinion if ericy is going to be corr. to eric it is very important to put in the $ into the quotes, for ex. ((ericy/10) * $)


hmm i hope you get what i´m trying to say, i barely understand myself *LOL*..

ps. have you looked at the other stocks i suggested: H&M ,SKF,SWMA??

Thanks again
PQ1...

[rumpino]

Originally posted by MarcRinehart
I will do a little of my approach, and then see if your idea can improve our thinking independent of each other. Can you show what the fish net looks like with the following other charts? Thanks, marc --

HM_B-SSE (Hennes&Mauritz Stockholm) A company like GAP and ZARA also a main stock in sweden.
SKF_B-SSE (SKF AB) A big industrial company.
SWMA-SSE (Swedish Match) Cigarettes&Tobacco, often a good place to hide your money in when the bears are on the prowl.

of course, i'll come back to this tomorrow, now it's bedtime for me

ah my friend PQ shows up , he's the one who showed me this nice site.

regards/rumpino