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Strategies & Market Trends : Why the markets will continue higher...
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To: Chip McVickar who wrote (634)2/8/1998 3:25:00 PM
From: GROUND ZERO™  Read Replies (1) of 745
 
It is interesting. I hope I didn't over sell my other method. It's based on cycles.

1) All you need to do is take the two consecutive most recent cycle lows and measure the number of days from low to low.

2) From the high of the most recent rally which occurred after the second low, measure forward in time the same number of days and place a point there at that time and price.

3) Draw a line from the most recent low to that future point. There is the real support line.

4) With every new high in the rally, recalculate the support line.

5) When prices finally break that line, you will find a violent sell off and a genuine change in trend.

6) The reverse is true for a bottoming action.

I use this exclusively for bonds today. This is why I went long this past summer and short a few weeks ago. It really is simple, but I probably confused you, I hope not.

GZ
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