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Here is something to look at (for fun). I have commented in the past on
JF- the Jarvis Factor.
The purpose of JF is to determine numerically whether the trend is intact or
broken. Nothing more, nothing less.
So on a daily basis (which under present conditions means nothing). The Dow
needs to close above 8116.99 to keep its current trend that has been present
over the last few days. If the Dow falls below 8116.99 it doesn't necessarily
mean that the Dow is headed down. It just means that a new trend is being
established.
But if the Dow does fall below JF and the rate of change of the typical price
is negative from yesterday to today. Then the dow will have a downward trend on
a daily basis.
Why? Cause the math don't lie.
But more important is (at least for now) is looking at weekly JF. So if the Dow
can stay above 7741.04 by the close of Friday the upward trend is intact.
The weekly trend becomes important because of the usual oscillations that occur
in the market.
How important is this? From a price point of view this helps us look forward
(i.e. into the future 1 day, 1 week). To give us an idea of where we are at in
the channel. Yes our beloved Jim's channels. Before they are seen on the
charts. So the question still remains. Is this still the beginning of a down
trending Dow?
SOME ADDITIONAL YAC YAC FOLLOWS:
JF is calculated yesterday for today. So the 8116.99 came from yesterdays
download. There are some other components Pre-JF and Kernal that are used in
the formula.
Well to skip the details and to get to the point. One can calculate on the fly
while the market is still open (at the end of the day), to see the direction of
the market.
Harley Meyer
meyer093@xxxxxxxxxx
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