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Strategies & Market Trends : Chart Formations

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To: belker who wrote (75)	6/28/1998 9:45:00 PM
From: sean sanders	Read Replies (1) of 967

Bob, Just a brief outlook on ASMLF ... For me I probably wouldn't be playing this as a 'full fledged dbl top' for these reasons ... 1. The distance between peaks is seperated by ~7 months 2. The peaks are not close together in point value I'm sure you noticed the smaller dbl top/or H&S formation located between 2/26 and 5/5 98... noticed how it dropped below the neckline and then retraced back up then dropped. If I have time tomorrow I'll add some more comments (been a bit busy)... - side note - I probably won't be working on the dbl top/bottom scan for awhile (it doesn' interest me as much right now). One thing caught my attention though was the RSI indicator. Well a few things in particular about it actually. 1. Studying it and seeing how it holds up. 2. Chart formations in the RSI 3. (saw this in the recent bonus issue of TASC) volume based RSI indicator and if it is 'better' then just the regular RSI. A recent article (a couple months back) about the RSI caught my attention. This author stated that for his tests the 16 day look-back gave the best results. Average annual % gain was 75. One thing I did notice was that he used a buy signal when the indicator first dropped below 30 and when it first raised above 70. Now I'm not that familar with the RSI to know if this differs slightly then how most people have looked at the ob/os levels in the RSI in the past, but I thought this approach was different. I'm used to the stochRSI, stochs, and many other indicator's buy level as it crosses a certain level going up thru a value level. Any comments on the above? Sean Sanders

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