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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (25846)	1/17/2003 11:43:40 AM
From: nspolar	Read Replies (1) \| Respond to of 36161

jims, I have to disagree here. DPoint has a McCellan based on volume, and it is the one I use. I think it more valid than the traditional approach, that you displayed. It is bearish, very bearish imo. One can use the summation indexes assist in doing some EW work. Plus the absolute magnitude of the summation index is not that important. In regard to using the McClellan as a stand alone device I place most emphasis on the patterns of the oscillator. I like to look at the 5 and 10 % indicators as well. These tell you more about where the future lies than the summation index. The summation index is confirmation of trend changes. If you look at several of the market technicals, ARMS, McClellans, VIX, Put/Calls, Sentiment, plus some other DPoint oscillators, and then take all that and do some EW, the picture is very bearish imho. It has been for some time. It is a little early to say, but most of the indexes are in sync, and started down 1st of Dec. My EW count has that point as a most probable beginning of a 1 of 3 of C down. The recent peak would be the end of the 2.

To: jimsioi who wrote (25846)	1/18/2003 4:02:05 AM
From: GTC Trader	Respond to of 36161

<< As of yesterday's reading relative to the NYSE they are still supportive of the bull case, imho. The Oss is above the zero line and the Summation is rising....That could change today if with the MSFT and SUNW disappointments ... Ought to be some support at 26 for the QQQ, failing that would be pretty bearish. >> They did and ... Yes, Osc below zero, summation topping out, and QQQ gapped down below 26. Pretty bearish. I shoulda/woulda/coulda shorted QQQ, but I am also focusing on PMs (long), so I am sitting out this round on the "gen". I appreciate the valuable input. Thanks - Ken