To: Trey McAtee who wrote (57309 ) 11/11/1998 9:07:00 PM From: HairBall Read Replies (1) | Respond to of 58727
Trey: Well the Index Update man is not posting often enough for me to bounce my stuff off of him. I trust he is doing ok. So, I am going to post it to the resident Columnist...<g> Indicator Signals: (Computed using End of Day Theoretical Data) A – Short-Term (Buy/Sell) B – Short/Medium Term (Buy/Sell) C – Medium/Long (Buy/Sell) D – Long-Term Confirmation 1) The following Indices are currently in B & C Buy Signals and D Sell Signals. 2) The following Indices have recently received A Sell Signals. Dow Composite, Dow Industrials, Dow Transports, NYSE, SPX, NASDQ Composite and RUT. In addition, my new NYSE Advance/Decline Short-Term Indicator rendered a Sell Signal on 11/09. Several Indices are forming Bull Flags. (Actual Intraday 60 Minute Charts) Dow Industrials, NYA and SPX. A Bull Flag is by definition a descending trading range that can be considered a consolidating pullback from a rally. The Dow Industrials Bull Flag can be identified by:Flag Poll: Connect the Low of the first hour of 10/28 to the High of the first hour of 9/1Upper Descending Trend Line: Connect the High of the first hour on 9/1 to the High of the first hour of 11/1 and extend.Lower Descending Trend Line: Connect the Low of the sixth hour on 11/9 to the Low of the sixth hour on 11/11 and extend. The one day projection for the Upper Descending Trend Line for Thursday is: 8915/8885. The one day projection for the Lower Descending Trend Line for Thursday is: 8790/8760. A break above (the normal break) would find next resistance at price action areas: 8950 and 9000. A break below (a negating break) would find next support at price action areas: 8750, 8700, 8650 and at the 200 day SMA at 8628. Regards, LG