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Strategies & Market Trends : Tech Stock Options

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To: Kevin who wrote (5752)	3/4/1997 2:47:00 PM
From: Dee Lee	of 58727

The Trading Channel(TCI) is an adaptation of Welles Wilder's Commodity Channel Index(CCI). The TCI is computed using two exponentially smoothed averages. The first average is simply an average of daily price, and the second is an average of the variability of price around the average. The difference between the daily price and the average price is broken up into units of variability, not unlike the standard deviations in Bollinger Bands. The TCI is now computed as a third average of the number of units of variability around the moving average of price. Thus, it is the direction of this indicator that is of importance. The Trading Channel(TCI) identifies changes in price direction. The TCI can be used for short-term confirmation of signals generated by other indicators. using intc as example - notice the TCI still in the negative zone and turning down compared to yesterday's: intc 145.88 146.00 145.88 EMA10 : 147.07- EMA21 : 149.11- BB9 : 0.46 BB21 : 0.39 RSI : 46.33+ MF_RSI : 54.87+ WMR : 46.73+ STOC : 29.05+ TCI : -38.69-

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