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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: peter n matzke who wrote (27715)	7/15/1999 10:25:00 AM
From: SE	Read Replies (2) \| Respond to of 44573

Anyone.....Curious after yesterday's QCharts TICK issue....is it fixed today? The close of the 10:20 bar showed 368 on QCharts. Can anyone confirm this number for me please?

To: peter n matzke who wrote (27715)	7/15/1999 1:57:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

That's a pretty complex issue to get into, Peter. Briefly, Wilder/Sloman "verified" the theory by backtesting into the 1800's, if I recall correctly.....perhaps further in the case of AG and other such markets. But I do not recall that they use such information to project out. In the case of Daytrading, such information has some power. Further, I think they rely on the Lunar influence so much that overlook Human Effect. For example, this week is Expiration. Now, it may be a Blue Day in a Yellow Week but it has many more characteristics. One being, there are only so many Blue Days in Yellow Weeks during Expiration. Historically, one would allot more weight to such prior patterns and less to prior Blue Bay/Yellow Week patterns and so on. Personally, I sort of throw out the 10, 12 point issue and it cures the Inversion Stuff....for me anyway. There are too many interpretations as to "where" the Points would land. Take 6/29/99, for example. A Blue Day, you would expect to see at least 3 points....unless of course one floated over to the Red Day or the Yellow Day (an issue which can do wonders to a Day Trader). Now, if you look at that day, the Low was at 9:35 Eastern Time. The High was at 3:55 PM Eastern. The sucker climbed with no more than a couple/three points retracement all day, from 1339,70 to 1362.50 So, where are Points 8, 9, 10? Well, I guess if you looked at the prior Red Day you might find 8. Well, the prior Red Day was pretty much of a One Way Up as well. I imagine, one could make a Case for Point 6 being at the roughly 11:00 High and Point 7 at the roughly 12:30 Low. But that would imply to me that the Best Trade on that Day was a Short from Point 6 to Point 7.and it certainly was not the Best Trade. Further, without looking at the other days in the Cycle, I'll bet I would have had a hard time convincing myself that those two points were at those times. I would have been more convinced (before the Blue Day) that Point 6 was at 9:30 and Point 7 at 3:15; which totally bashes my perception of how the Blue Day "should" pan out. So when I look at a day I look at it "somewhat" independent of the prior Cycle Day. I include it in my reasoning, but I don't rely on it overmuch. Gee, we's had One Way Up Weeks. A Week should have at least 12 Points. I would bet I could find weeks that anyone would be hard pressed to find 12 Points. So I think that you have to include "similar" events from the Past to supplement the concept of Delta and that's where I get off the bus carrying Wilder.