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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: bearshark who wrote (17885)	5/4/1998 6:14:00 AM
From: robnhood	Respond to of 94695

bearshark, <<< The charts that I posted in note 17871 can all be viewed as bullish. >>> That's what I thought as well.. russell

To: bearshark who wrote (17885)	5/4/1998 11:32:00 AM
From: edward miller	Read Replies (1) \| Respond to of 94695

Bearshark, What are the levels of each leg based on you estimates using Fibonnaci numbers? It would be interesting to see how well the levels fit the patterns to date. Ed Miller

To: bearshark who wrote (17885)	5/4/1998 6:34:00 PM
From: Vitas	Read Replies (2) \| Respond to of 94695

Shark, From Favors' 4/28/98 letter: " Our Lindsay A-D Indicator gave a Sell Signal on April 21. This indicator is based on a comparison of the Dow closings with the net advances,that is the advances for the day minus declines. When the Dow registers 3 higher closes,each in new high ground for the move,while the net advances show 3 lower peaks a Sell Signal is given. The Dow must first rally to new high ground for the rally(not necessarily new all time highs),then pullback. The Dow will then rally even higher but on the second high the net advances for the day are less than the net advances at the first peak. The Dow will then pullback again. After that second peak the Dow must decline again. After that decline the Dow will then rally to a 3rd higher peak. However on that 3rd peak the net advances for the day are even lower than the second peak. That pattern generates the Sell Signal. On April 14 the Dow closed at 9109.46.That day there were 796 net advances,or advances minus declines. The Dow reached a high of 9159.03 on April 15,and then pulled back to a low of 9076.57 on April 16.The Dow then rallied to a new high of 9167.50 on April 17.On that day there were 584 net advances. So while the Dow rallied to new highs the net advances were below the 796 level seen on April 14.That was the second peak.The Dow then fell to 9141.84 on April 20. The Dow then rose to a 3rd new closing high of 9184.94 on April 21.However on April 21 there were only 200 net advances for the day.There you have the 3 higher peaks in the Dow on 3 lower peaks in the net advances. The Sell Signal was given on April 21. This indicator does not give sell signals often,and when it does they can be important." New Dow high today on puny a-d figures. Hmmmmm. Vitas