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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (1130)8/25/1999 2:24:00 AM
From: Smooth Drive  Read Replies (1) | Respond to of 2103
 
Hello OX,

Good question. I guess it's 6 of one or half a dozen of another.

I chart them both. I trade the QQQ so my chart creates
the spots I place my stops, etc. There are minor timing
differences too. If one was using log charts like Ben
A recommends, they would be pretty much tit for tat.
For instance, here's QQQ using conventional Chartcraft numbers:

                                            *
122                                         X *
120                                         7 O X 
118                                         X O X
116                                         X O X
114                             X           X O X
112                         X   X O X       X O X
110                         4 O X O 5 O     X 8 X
108                         X O X O X O X   X O X    
106         X           X   X O X O X O 6 O X O
104     X   X O         X O X O X O   O X O X   +
102     X O X O X   X   X O X O X *   O X O   +
100 X   X O X 2 X O X O X O X O X   * O X * +  
99  X O X O X O X O X O X O X O X     O X + * < BRSL
98  X O X O X O X O X O X O X O       O *
97  X O X O   O   O X O X O           +   *
96  X O X *       O X O X *                 * < BRSL
95  X O X   *     O X 3 X   *                  
94  X O X     *   O   O       * < BRSL        + < 1st BLRL
93  1 O X       *   +           *           +
92  X O           *               *       +
91  X           +   *               *   +
90  X         +       * < BRSL        +
89  X       +           *           +   *
88  X     +               *       +       *
87  X   +                   *   +           *
86  X +                       +
85  X                       +   *
84  X                     +       *
83  X                   +           *
82  X                 +               *

To create a comparable NDX P&F chart we start by
taking a 2 point box and dividing by 120 and get
1.67%. The NDX is in the area of 2400, so 2400
times .0167 ='s 40.08 -- and now we create a NDX
P&F chart with 40 point boxes:

             *
2440         X *
2400         X O X
2360         7 O X *
2320         X O X
2280 X       X O X
2240 X O     X O X
2200 X O X   X 8 X
2160 X O X O X O     +
2120 X O X O 6     +
2080 X 5   O X   +
2040 X     O X +
2000 X     O +
1960       +

Too lazy to type more but you can see that it's close enough to pass the giggle test.

Take care,

Eric


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