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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Teresa Lo who wrote (3546)	11/3/2000 3:58:16 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 8925

If you look at the daily chart of the NDX, it's actually in a trading range, and people are all getting really psycho out there, hoping and praying NDX weekly forms an inside bar today and a narrower range than the last two weeks. Kinda looks like a ledge underneath resistance. Isn't a ledge as good as a wedge, sometimes ;) Doesn't matter, really, just pays not to be betting the kids inheritance or school fund at times like this when there really is no direction and plenty of danger.

To: Teresa Lo who wrote (3546)	11/3/2000 4:14:54 PM
From: Jill	Read Replies (2) \| Respond to of 8925

Yes I know you're right--people are really longing for a rally and back to 4200 at least Sorry about your site, why would someone hack it? So Monday you'll let us know, and I'll tell you all about blue and pink lines (and little green men)

To: Teresa Lo who wrote (3546)	11/3/2000 5:43:34 PM
From: robin 187	Read Replies (2) \| Respond to of 8925

Teresa.. I'm really trying to understand how to use ADX and I was wondering if you could look at the GLW chart for me and explain what it is that you see. I use IQ charts and their Directional movement has the ADX with the +DI and -DI. I know you use Quote.com and they only use the ADX..... According to Elders, a very good signal using ADX is when the ADX is below both the + and - DI. On GLW 60 min chart, ADX is below both. Elders says that after ADX's lowest point, and it comes up 4 steps, whichever is on top the + or -, that this is a strong long or short signal. GLW has just completed the first phase of this and at this point, it would be indicated to take a long position. Do you agree with this or should one not use the 60 min chart on such a signal. I'm really trying to understand how to use the ADX. I seem to do best using it as a contrarian indicator... When it's extremely extended, I take the position that it's currently overheated and it's best to take profits and possibly reverse one's position. I don't understand yet what it means when ADX falls from it's high and is just trending in a flat range other than to assume there's some consolidation going on. Do you have any articles you've written on ADX? Thanks again for giving me your interpretation of what I'm looking at.... Take CAre, Robin