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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (10187)	12/13/1998 11:08:00 PM
From: nicewatch	Respond to of 44573

OJ, Check out my site... I just added a new SPX chart (second from bottom) which should clear things up a little, including -perhaps- my last post to you. Those two forks are what I was referring to as being the thing worth watching. Sort of like seeing the forest from the trees, which is why looking at too many short term forks can make one lose sight of the bigger picture, imo. As for WHEN price is going to react to the forks (assuming they even do), I don't know... that's why I try to list the rate of change of the lines. My gut feel is that it happens sooner than later (at least for the up fork) because of the impeachment circus, BWDIK. As for tomorrow, again, I dunno but I would expect 1125-1127 SPX to be the MAXIMUM downside in a selloff. what the heck was the 1048 number???? you mean 1148??? right??? No, I mean 1048. Look at the sideways fork. also Frank the MACD looks like it's going LOWER too, NO??? Yes it does... I agree. For that time period MACD (13,34,89), I find the crossing of the zero line to be a pretty good default intermediate term trend indicator. IMO, that MACD is a few sizeable down days away from crossing below zero. Of course, one could get fancy with using MACD divergence and stuff like that... but I find the zero line itself to keep me on the right side of trend, FWIW. I hope this helps, talk to you later Regards, Frank