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Below, I have copied information on the T2108
indicator that Worden Bros. includes in their daily downloads of data.
Gary Smith seems to think it is a decent market condition indicator.
I am not yet capable of doning any coding, so if someone decides to
write Amibroker code that will allow this so it can
be displayed in Amibroker, I would appreciate your posting it here in this
group. I use the free yahoo EOD data. Ron D
<FONT face=Arial
size=2>==========================================================================================
<SPAN
class=MainHeadline>An Update on the Trusty T2108<IMG height=5
src="" width=1
border=0>By
<FONT
color=#000066>Gary B. SmithSpecial to
RealMoney.com<SPAN
class=Time>04/10/2003 08:31 AM EDT<A
class=leftNavLinks
href=""><FONT
size=2>Click here for more stories by Gary B.
Smith
Has <A
href=""><FONT
color=#000066>T2108 nailed it again? You'll recall that I've been
using this chart -- which is nothing more than the percentage of NYSE
stocks over their 40-day moving average -- as somewhat of a buy/sell oscillator.
When the percentage gets above 70%, that marks a top. When it gets down into the
mid-20% range, it's a buy. Down much lower, and it's a bottom.
<A
href=""> Now,
on April 2, it finally climbed into the 70%-plus range, and I <A
href=""><FONT
color=#000066>noted it might be time to sell. Since then? Despite
some good openings, the S&P has not closed higher than it did on
April 2 and is now down 1.7% since that day!
Interesting stuff, and I'll keep you posted. (Oh, I'll save you the trouble
of asking. I've looked, and this chart is only available via Worden Brothers'
TC2000 software.)
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