The gyrating Dow / Resending message

[Rajesh <rajesh@xxxxxxxx>]

Mentorspeak"

Sept 25, 1998,


Subject to:
1. My analysis being correct
2. The upward 4th wave ended at 8182
We have to now revise the max fall of the Dow to 7396.  In my opinion,
if the 5th wave downward has indeed begun, it will fail, i.e. it will
not go below it's previous bottom of 7400.  It sort of gells with the
overall scenario of my count.

I am unable to do precision analyses due to the lack of data.  I do
not like bar charts for a variety of reasons.  I like a single point
data for the entire day.  This single point data can be arrived at in
a number of ways.
(a) For individual scrips, the average traded price of the day gives
    a good single point data, i.e. total traded value divided by the
    total number of shares traded.  However, this is difficult for
    the Dow (though not impossible).  It is necessary go give
    weightage though to the Dow.  As the Dow itself has different
    weightages for the different scrips that it comprises, a tick by
    tick weight has to be obtained and then all the ticks of the day
    averaged out.  I don't know if any such data is available.
(b) Alternatively, if all the ticks of the day are added up and then
    divided by the number of ticks in the day, we can get a fairly
    good single data point for the day.
(c) The last resort would be to take the high and low and divide by 2.
    This will give you the poorest data point.

 can you please check through your numerous sources, what sort of
data is available if one wants to plot a single point for the day.  In
case you cannot get anything, then just send me the high/low daily of
the Dow since , say June 1997. I wish to do some plotting on sunday.