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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (4363)	8/10/2001 12:08:05 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 33421

>>The guys who trade purely on technicals are taking their lead from guys who either have insight or understand the fundamentals<< This just isn't correct...! TA market timers pay almost NO attention to funnymentals, it's all in the charts and hard data. They often do just the opposite of the public in many market conditions. We do pay attention to certain measures of the markets like investor sentiment, RSI, PC Ratios, Fair Value, adv/decl numbers, etc...! But these are primarily derived from charts and other market data and some traders even use astrology. Technical Analysis Traders find fundamentals fog the brain, produce convulsions and hick-ups that mess up concentration. I expected the market to pivot on 8/3 and it will again after 8/18-21st. In TA.., Time is more important then Price. Here is an example of pure TA on the NDX expecting a decline from 1710 with a bottom at near 1605. When the market arrives there or on the 21st we'll take another look and see what's next. BTW..., John Pitera is one of the best at TA. ~~~~~~~~~~~~~~~~ To:da_cheif who wrote (4086) From: peter n matzke Monday, Aug 6, 2001 6:10 PM View Replies (1) \| Respond to 4087 of 4214 da Nasty has the potential to be nasty tomorrow geocities.com pivots R2 1737.5 R1 1726 P 1717 S1 1705.5 S2 1696.5 Gann 8's 1775 } drops off on tuesday 1766.5 } drops off on tuesday 1758.00 1749.50 1741.00 1732.5 1724.00 1715.50 1707.00 } adds on for tuesday 1698.5 } adds on for tuesday DeMark Pivots for tuesday H 1724.75 L 1704.25 Fib Retracements 1704.00 .382 1660.00 .618 } 8/2 H to 7/24 L Fib Spiral wall point down for tuesday Down pitchfork points to 1569 target last 10 days of nasty clx: -12, -7, -6, 9, 9, 8, 12, 21, 16, 0 3da CLX of the nasty is going down and suggests further down for tuesday 10da CLX topped on friday today was the first reversal down Gann 2 day swing is down Pattern analysis H 9:45- 10:00 am est 1724 suggested area L 10:45- 11:15 H 3:10- following am if strength develops the other pattern is a one way down Open with an early high, and just drops all day which would be supported by some of the other analysis ~~~~~~~~~~~~~~~~ To:Chip McVickar who wrote (4100) From: peter n matzke Tuesday, Aug 7, 2001 10:18 PM View Replies (2) \| Respond to 4127 of 4214 Hi Chip, if you care to post the methodolgy on the adv/dec i would be interested. Gann 2 day swing is still down R2 1743 R1 1724 P 1708 S1 1689 S2 1673 DeMark Pivot H 1723 L 1688 it may just be coincidence but did ya notice when the active fork today hit on the mid tine?? 16 degrees of the earth rotation p1 to p2 17 degrees of rotation p2 to p3 32 degrees of rotation p3 to p4 65 degrees the total rotation from start to finish there are some other observations there but i'll let ya grab a few on your own 3 da clx still down almost zero line .67 10 day is still up a tad, but the negative offsets are done so it will be tougher to hold the line regards peter If you get this far take a look at: Constance Brown "Technical Analysis for the Trading Professional" McGraw/Hill My Best, Chip