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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: d. alexander who wrote (24494)	12/4/1999 8:09:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69791

Dorothy, >>Harry; a little puzzled here; can't find a gap at 1327 Sorry, typo. I was trying to rush out the door for an appointment when I entered the message. It should have read 1427. It was the middle of the intra-day gap. It looks like we finished 5 points above that. Just remember that my S&P system is designed to be an intra-day system where the signal is generated on data for the day or for the last few days and that the signal is only good for a few hours. So when you are confused by a level, defer to the intra-day 60 minute or 15 minute chart in case I can't reply right away. If that fails then go to the daily charts. Violation of near term support/resistance for the last few days is what the model is designed to gauge. I use the charts at iqc.com . The 15 minute lag does not seem to affect the timing of the signal much in term of profiting from it. I guess I am doing a cardinal sin here, at least for system traders. I am giving most of the elements of my system away. <g> I will look at the closing numbers later this weekend. A closer look at the stocks in the various sectors and the index components should indicate how broad the rally actually was and where the strength was. >>This time, they don't say. Best of both worlds. To be honest, they probably are not sure themselves either. A lot of fire power must have to used to get the indices to this level today. I have heard some people comment that there was a lot of money still sitting on the sidelines in preparation for Y2K. I wonder if they have finally attracted it all into the market. Even if they haven't most of the good news may be out already, so there won't be a much reason to buy in next few weeks. In addition, the little guy has to tax loss sell pretty soon, so that should take some sparkle out of selected stocks and sectors. Monday's trading in the absence of news will tell us more of the mood traders are in. >>Thanks for Ike's bond comments. Ike can be a little tough to read at times. He tries to explain too much about the co-relation between all the data he uses for his model. To be honest, I don't get much out of the majority of his stuff either except for the ocassional post. He knows what he is doing. Explaining it in a brief concise manner is another thing. I unfortunately don't have the time to try to decipher all his stuff. It is worth doing, but right now I have a simpler model that is at least pointing me in the right direction so I will stick with that for now. I just quickly scan his stuff from time to time and if I don't get it in the first read I move on. >>Will try to have a look at the lights myself. Nose to the monitor(s) You mean that glow on your nose is not from the cold?!!!<g> Is there any snow yet? There is nothing here in the city, the local mountains look great though.