Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: shades who wrote (63011)	4/30/2005 12:45:44 AM
From: Moominoid	Read Replies (2) of 74559

An interesting perspective on the backward lookingness of most packaged TA: stockcharts.com[w,a]waclyyay[pb50!b200][vc60][iUb14!Lh14,3]&pref=G This indicator says what percentage of stocks in the index have bullish point and figure chart formations. Notice that when the percent gets very low, then the market goes up! So if you follow those point and figure charts reccomendations (Market-Edge/Second Opinion seems to be largely based on this, Stockcharts has its own), or similar TA approaches, you want to be very careful :P More sophisticated TA is looking at an index breadth indicator like this. Though you can't apply it to an individual stock of course...

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