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

To: Monty Lenard who wrote (19893)	6/5/1998 9:00:00 PM
From: James F. Hopkins	Respond to of 94695

Monty ; I've not gotten into that, yet I feel it could be right, if interest rates stay down we should go up ( with some dips ) for a spell. But I'm going to wait about a week from now before I start bottom fishing again. I like an uptrending market and playing the ones that get beat up, or dead cat bounces. Which are not worth a flip in a market like we have had for the last two months. It won't hurt me to wait it out a bit more. Jim

To: Monty Lenard who wrote (19893)	6/6/1998 8:15:00 AM
From: Vitas	Read Replies (2) \| Respond to of 94695

Monty, The summation index has to be "normalized" to 1000. Otherwise you will get a different figure dependant on how many days of data you have loaded, or where the starting point of the calculations begin. This explanation is from : decisionpoint.com McClellan Summation Index (New Method): Mathematician James Miekka developed a new formula for calculating the daily Summation Index that prevents drift and forces it to maintain a consistent relationship with the Zero Line. Rather than adding the current McClellan Oscillator value to the prior day's Summation Index (the traditional method, which causes the undesired drift), the Miekka formula derives the Summation value directly from the daily 5% and 10% index readings. This not only stabilizes the Summation Index, it also allows you to calculate the Summation Index for any day without knowing what the prior day's reading was. Also important, the Miekka method insures that independent calculations will always be within a few points of one another -- differences are often caused by rounding and variances in advance-decline data. The formula is: Summation Index = 1000 - (9 * 10% Index) + (19 * 5% Index) The McClellans have determined that the +1000 level is the neutral value for the Summation Index, which is the reason for the "1000" in the formula. The McClellans have given their blessing to the Miekka formula, and, as far as I know, use it themselves.