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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (108478)6/13/2001 7:05:24 PM
From: maceng2  Read Replies (1) of 436258
 
MM,

Just been looking at decisionpoint.com site. Like Swenlins charts and TA comments, and all his nice data. His fees don't break the bank either. As you might of noticed... I like tracking the Wilshire 5k and it closely tracks the SP500. I like the overall picture. Your brave TR prediction interested me from the outset. Good stuff btw.

Anyway, I've been looking how a classic TA guy like Swenlin draws his lines on the graphs..watching the Wilshire 5k as usual.

This chart doesn't show exactly what I want but it's good enough. If you can look at Swenlins site though, the Wilshire 5k shows my thoughts clearly.

stockcharts.com

So awhile back Swenlin draws a line over the first two highs showing the down trend. Then a third peak confirms the trend line.

Then another peak breaks higher up through the trend line formed perfectly by the first three peaks.

Then TR is broken followed by a significant rally that breaks up through the (new adjusted to hit the two highest peaks) trend line.

Now Swenlins line has been broken (again), it's predictable what happens next. There will be a drop followed by a rally that will confirm the trend with a line through the highest two peaks forming a down trend. The important note is that the gradient of the down trend is reduced by this process of breaking up through the down trend line. It gets the TA guys bullish with their lines.

This process will repeated ad infinitem to produce the sideways movement of the graph. MM Trading Range confirmed for this year!!!

Unless something goes belly up of course. However, I thank you for the illuminating thoughts on what is going on. The Fed cuts rates and/or prints dollars to keep the sideways movement intact.

Bears don't stand a chance. Bulls don't stand a chance. House wins as always.. sounds about right -g-

regards,

pearly.
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