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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: David R. Evans who wrote (8743)	10/2/1998 2:26:00 AM
From: marketbrief.com	Respond to of 12039

Technical Analysis of Daily Charts of Major Market Indices: Dow Jones Industrial Average: From the intraday high of 9367.84 made on July 20, 1998 to the intraday low of 7400.30 made on September 1, 1998, the index fell a total of 1967.54 points. Since the lows, the index has bounced 782.17 points, a 39.75 percent retracement. It has traded inside of a classic bear flag pattern, which has bearish implications and had been trading within the well-marked boundaries of the flag until yesterday when it broke to the downside. There are two possibilities at this time. The first would be an eventual successful test of the September 1 intraday lows. The second would be a break of the lows. We can use the measurement formula of Edwards & Magee as a rule of thumb to calculate a target of 6828.99. Major areas of support seen on the weekly chart are 7391.59 and 6691.51. S&P 500 Index: From the intraday high of 1190.58 made on July 20, 1998 to the intraday low of 939.98 made on September 1, 1998, the index fell a total of 250.60 points. Since the lows, the index has bounced 126.13 points, a 50.33 percent retracement. It has traded inside of a classic bear flag pattern, which has bearish implications and had been trading within the well-marked boundaries of the flag until yesterday when it broke to the downside. There are two possibilities at this time. The first would be an eventual successful test of the September 1 intraday lows. The second would be a break of the lows. We can use the measurement formula of Edwards & Magee as a rule of thumb to calculate a target of 899.45. The major support seen on the weekly chart is in the 900 area. Nasdaq 100 Index: From the intraday high of 1485.97 made on July 21, 1998 to the intraday low of 1118.12 made on September 1, 1998, the index fell a total of 367.85 points. Since the lows, the index has bounced 295.04 points, an 80.20 percent retracement. It has traded inside of a classic rising wedge pattern, which has bearish implications and had been trading within the well-marked boundaries of the wedge until yesterday when it broke to the downside. There are two possibilities at this time. The first would be an eventual successful test of the September 1 intraday lows. The second would be a break of the lows. There is no measurement formula for rising wedges. Charts have been posted to intelligentspeculator.com

To: David R. Evans who wrote (8743)	10/2/1998 11:53:00 PM
From: freelyhovering	Read Replies (1) \| Respond to of 12039

Dave--You may have related before what Regression channel settings you use and if so, can you point me to the post. How would I set them up on TC2000? Thanks, Myron

To: David R. Evans who wrote (8743)	10/3/1998 1:41:00 PM
From: feewaybill	Read Replies (2) \| Respond to of 12039

Hi Dave, Great to have you back posting. I have been enjoying your new webpage. A question on the Auto (Regression) Trend Channel Tool in GET. Do you use the Default Settings in which Get will start the channel off of a Primary Pivot? Or do you prefer to use a shorter setting like Major or Intermediate?..........Thanks.........Bruce Silvara

To: David R. Evans who wrote (8743)	10/3/1998 2:38:00 PM
From: feewaybill	Read Replies (1) \| Respond to of 12039

Hi Dave, I have been studying your webpage daily chart of ACCOB. My question concerns the Fibonacci Retracement Tool in GET. In the past in Metastock I usually start with about a " years" worth of data on the screen. Then using this tool I will plot it from a major low to a major high. I noticed on the ACCOB and the other charts on your webpage that you used the beginning of the E-Wave(What I believe we call the "0 point" of a 5 wave up) as the low. Although drawn using only about "3 Months" of data, the Fib. Ret. Tool did a great job of drawing in the Support and Resistance lines on the ACCOB chart. Now that I have GET and can look at E-Waves, is the "0 point" the best spot to use this tool on in most cases?..........................thanks...............Bruce

To: David R. Evans who wrote (8743)	10/3/1998 8:44:00 PM
From: Ken Carter	Read Replies (1) \| Respond to of 12039

Dave, I have noticed that since you mentioned WLA and LU as possible buys that they have both tanked. In this market, do you still feel that stocks that are making new highs are the best stocks to invest in? Are you also saying that stocks that have dropped in price should not be considered in looking for stocks to trade? The way the market has been going, high flying(large Cap) stocks would have lost you a ton of money. If people only start with stocks that are hitting new highs in their data ( high RS ) wouldn't that mean that most of them that bought those stocks in the last few months would now be down about 50% or more from where they started from? As you said, "THERE ARE NO STUPID QUESTIONS" could you clear up a couple of these questions for me. Thanks