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Strategies & Market Trends : Paint The Table

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To: Oral Roberts who wrote (10989)	1/23/2002 9:05:22 AM
From: Don Pueblo	Read Replies (3) of 23786

Jeff, by the way, the Daily Range Projection is a mathematical formula invented by Thomas DeMark. It's nifty. You can use it on anything. H=high L=low C=close Take the COMP today for example. If the close yesterday was lower than the open, you use H+L+H+C, if it was higher, it's H+L+H+C, and you do this: lower close yesterday, so: H+L+C+L divide by 2 = 3796 3796 minus yesterday's low = projected high today - 1914 3796 minus yesterday's high = projected low today - 1849 Using this method, your guess on the low is precisely one point off. <G> I find DeMark's Daily Range Projection to be helpful to me for clues as to support and resistance. Only caveat is if the open today is outside that range. That invalidates the projection (obviously) but it also suggests the daily move will continue in the same direction, which is helpful info.

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