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To: ViperChick Secret Agent 006.9 who wrote (5518)	2/1/1998 9:04:00 AM
From: Debra Orlow	Read Replies (1) \| Respond to of 42787

"Elder Force Index- has anyone had any experience with it..." What this formula does not take into account is the closing price with relation to the high and low of that same day. I believe that this is a very important element to include. For example, say the close of day 1 is 20. The close of day 2 is 21, on heavy volume. If you just take into account the closes, it would seem everything is on track to take you higher. But what if the low on day 2 was 15 and the high was 21.5? That would tell you something completely different. And what if the low was 21, and the high was 25? Different still. Joe Granville came up with the OBV (On Balance Volume) indicator, which is similar to Elder's Force Index, kind of. But I prefer the Accumulation/Distribution Line or the Chaikin Oscillator, both of which take into account the close in relation to the high/low. Check these out, and compare them to the Force Index. I would be interested in hearing your thoughts. As always, IMHO only. Debra