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Strategies & Market Trends : Technical Analysis- Indicators & Systems

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To: Brian Lempel who wrote (3177)	10/13/1998 9:12:00 PM
From: William H Huebl	Read Replies (1) of 3325

Brian, Sure wish I could help. The only suggestion I could make is to either use systems tests on each indicator or run a coorelation study with each to see the effectiveness. An excellent book debunking most of the popular indicators is called "Stock Market Logic" by Norman Fasback. I use his Lesser of New Highs and New Lows as a validation for market action... it has been predicting the turmoil in the markets for months and continues to do so. You are welcome to pose your questions on our thread and I am sure you will get many different reactions from many different people. (You might also get several different reactions from ME... cause that is who I am... whatever THAT means.) Your question is the search for the holy grail of indicators... and indicators can fool some of the people some of the time, all of the people some of the time, but not all of the people all of the time... except in 1929! <gggg> Bill PS There may be NO perfect indicator or sets of indicators. It may be that forecasting market action is a truly sophisticated art form. And be sure to check out John Murphy's new book, The Visual Investor!

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