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Non-Tech : The Official Guide To GOOFS
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To: Paul Weiss who wrote (383)7/30/1996 12:56:00 PM
From: Jeffrey Shaw   of 3539
 
Llama: Don't mean to overstay my visit to the line today, but I came across something you may find of interest...as might the other lurkers. Now I realize that I often sound like a prophet of doom here and you all hate how I pooh-pooh everything....nonetheless:
Moving averages are a pretty good indicator of market directions and are frequently used in futures trading. The key is to follow highs and lows on a string of days, calculating the average over a given time period as it moves, yeilds an channel wherein the averages typically fall as time goes by. A movement outside the channel is typically an indicator of a major market move, either up or down. In other words, the entire day's trading takes place outside of the moving average channel. Late last week, both the DJ and S&P averages operated to the downside of the 200 day moving average channel (as per Investor's Business Daily). This is a significant bear indicator...as though there haven't been enough, but this merits some attention.
Now I'll go away....Grasshopper.
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