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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: GROUND ZERO™ who wrote (13001)	1/17/1999 2:21:00 PM
From: Jerry Olson	Read Replies (1) of 44573

GZ here's how it works... on the DOW you can use 50 or 100 point boxes...on the SPX 5 point boxes... now in P&F charting, a column of X's means your going up, and a col. of O's means your going down...actually on both indexs and stocks its related to supply and demand... on any chart, when a change of direction "starts", it's usually a 3 box reversal from O's to X's or vice-versa... what give's the signals are a col. that TOPs the other "same X's" from before...meaning say your up ten boxes in a col of X's, you reverse down 4 boxes in O's, but the move up 6 boxes in X's...you wouild be higher than the other col of X's before the O';s'..... this could be a continuing buy signal or a NEW buy signal... Now on the DOW & SPX...before we moved UP on Fri...as of thurs we were in a column of O's on both...in fact we gave double bottom break sell signals then... BUT...WHEN YOUR IN A TREND AND YOU REVERSE THAT TREND, THE FIRST "SELL SIGNAL" IS USUALLY FALSE.... so when we reversed back up in to a col of X's on Fri, that starts a NEW move...yes we are at lower levels than the recent tops...but we will get NEW buy signals at 1295 SPX & 9700 on the DOW... hope that helps, and i will supply some charts using P&F to show these levbels...

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