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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (9072)	3/24/1999 7:52:00 PM
From: Pierre	Respond to of 99985

then at turning points P&F charts LAG the turn. Note that "the price must fall 6 points in order to change to a column of Os" (or whatever box size times reversal amount you are using). The whole world knows that What you say is true, except you don't mention that the "price" looked to is the hi and low for the day, not the closing. I think it is this aspect that on occasion makes P & F a pretty responsive indicator. Pierre

To: Vitas who wrote (9072)	3/24/1999 7:52:00 PM
From: Casaubon	Read Replies (1) \| Respond to of 99985

that is exactly right. There is really no indicator that "leads" the market. They are all based on historical data, necessarily. As analysts we need to sort the data to find high probability events, so that we can base our market expectations on high confidence. There is a world of difference between leading the future (ie manipulating an event to an expected outcome) and predicting an event (any form of technical analysis done properly). OJ, I like P&F charting because it helps me recognize high probability patterns. But, that does not mean it leads the market!

To: Vitas who wrote (9072)	3/24/1999 10:22:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 99985

HI Vitas... as to P&F ing..we call it PIFFING<G>... i know everything there is to know about the service..i have studied it for over a year now...i know the chart patterns, the nuances, the good stuff and the bad...i check the indexses, commodities, indices every night...... unless your using live Real Tick III, Level II and time and sales, then nothing can predict what a stock will do "Intraday"... i have all of the above thru QCHARTS Preminum Service... so i can watch intraday charts real time...in any interval..fom 1 minute to daily... as for P&F...Vitas...believe me...using these charts, and talking to Tom Dorsey personaly on the thread we have...is a remarkable experience for me...he's truly a gentleman, of great knowledge of the markets, indicators, and past history from 1987 forward... he's lived these trends...he's traded them for a solid 10 years using P&F and of course way before as a broker... please look at the site...www.dorseywright.com..get the free trial..it's so simple..so easy to use and understand... anyway...sure i can be late to the party...but i'll get a chance to have some cake<g>....maybe some ice cream if i'm good...:>}

To: Vitas who wrote (9072)	3/24/1999 11:16:00 PM
From: Bull RidaH	Respond to of 99985

Vitas, I just rode it out... Didn't cover any shorts. Had it filled the gap at 1247SPX before this rally began at yesterday's late day low, I would have covered at least a third, but since they didn't, i stood pat. After breaking the wave formations down with 5 minute/24 hour charts, I don't believe this little rally/consolidation since Tuesday's close is wave 2. Instead, I see a well defined expanding triangle (or megaphone pattern), which is only found in a wave 4 or wave b formation. Wave 4 fits with the bigger picture count, so i have the count as follows from the Friday opening peak: Wave 1 of A started at Fri's a.m. peak and ended at 10:40am Monday Wave 2 of A completed in a zig-zag format at 3:55pm Monday Wave 3 of A ended at 3:55pm Tuesday. It was 48.25 S&P Points Wave 4 of A juked and jived all last night and today (Wednesday) in an expanding triangle format. We were in the process of completing the last leg up of E at the close today. The maximum E can travel is 2X the length of D. This would allow a move to no higher than 1289 SPM before we turn down for wave 5 of A. Wave 5 can be no more than 6 X the size of Wave 3. That will allow for as much as a 289.5 point down move from where ever this thing turns down from either tonight on globex or tomorrow a.m. I point this out because other technicals I follow say the next move down could be a barn burner (Heck..even Jerry's saying sell the rally..yikes!! <g>). Regards, David P.S. I don't have historical Net Advance #'s (that I know of), so i can't help out... But I'll do some digging.