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

To: HairBall who wrote (20609)	6/17/1998 6:44:00 PM
From: HairBall	Respond to of 94695

Now, I know most of you folks that read and post this thread are Day Traders. The ones on the edge. I have been reading and learning from you post. However, my style of trading is really investing. My indicators have been good to me. One of the tools I use, to keep an eye on the market as measure by the DOW IND, is the following: (I hope reading this is not a waste of time for you power players. Just trying to contribute a little!) IMO, if you chart the DOW IND. Then, plot a 20 day Weighted Moving Avg, coupled with a 20 day Weighted Moving Envelope (with a 3% Vertical Shift). You will have a good range of the channel it trades (closes) in. The 20 day WMA (being the center of the channel) as of the close Tuesday was 8885.76. This general area (+/-) 5, proved to be resistance to the DOW's uptrend today. (As I expected.) At present, the DOW is now trading in the lower half of the channel. The DOW rarely trades (closes) outside this channel and when it does, it works hard at getting back in. IMHO BWDIK Regards, LG