John,
Did you know the Turtle trading system has gone public...?
turtletrader.com
Arch Crawford's "Freebie"
by Claude Spink
20 June 2000 19:21 UTC
------------------------------------------------------------
Reprinted with Arch's permission.
He sends his regards to the Longwaves group:
Arch Crawford wrote:
The last few days action in the stock market convinces us a more powerful BUY signal than any developed over many months, is imminent.
The action is expected to be SHARP, yet could be over in 2-4 weeks.
As this is the best signal for a long time, we are sharing with many subscribers, clients, formers, friends, press etc...
All the best to you all.
Arch Crawford
***************************
June 16, 2000
MARKET IS FAST APPROACHING AN IMPORTANT BUY!!
RALLY COULD BE EXPLOSIVE, AND QUICKLY OVER MID-JULY.
Last note (June 1) we wrote:
"They will either break them today or Tuesday, or, they will hold on the support, from which a bounce which could carry back to recent range highs."
"The strongest single technical number has been TRIN/ARMS over 1.00 for 5 out of 6 days May 19-26."
TRIN/ARMS now over 1.00 13 out of last 19 days.
This has got to be near a record!!!
5-Day reached 126.4 & 10-Day to 115.5.
The 21-Day ARMS is back up into Strong Intermediate BUY area
S&P500 June Future was down 7 out of 8 days May 17-26.
It is now down 6 out of the last 9 days.
NYSE Advance-Decline Line was down 7 days in a row May 17-25. It has now been UP 10 of the last 14 = strong!
NYSE Advance-Decline Line is in a flat to mildly positive trend for the longest period in months (others failed after a short time).
NYSE New Highs-New Lows have gone to highest Positive levels since July 99.
Many of our technical indicators have formed a series of Rising Bottoms or Higher Lows! Almost ALL of them, as a matter of fact! This is highly unusual. Even if we get one more sharp decline, we will consider it a BUY SPIKE to add to positions.
There is a good chance we won't see ANY further downside.
THIS IS THE STRONGEST SIGNAL (LEAST DIVERGENT-UP OR DOWN) WE HAVE SEEN IN MANY MONTHS!!!
That signifies that Strength in the move is Increasing, at least the Sell Side is Decreasing.
The large TRIANGLE Pattern in Price Indices has continued through time by expanding the width of its sides, breaking Up AND Down, but without confirmatory increases in Volume and Momentum.
The Dow Jones DJIA is acting significantly worse than the other Majors, usually a sign of greater strength forming underneath. It is the only one remaining below its 200-Day Moving Average.
Again from last Cons. Letter:
Conclusion:
We believe the market will dip back down into a short term low! Afterwards, Indices will make another attempt on New Highs, at least scraping against Range Ceilings.
We think June will be a good UP MONTH!
FOMC on June 28 and VIOLENT SOLAR ECLIPSE on July 1 will confirm or reverse recent trends! |
