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A.J. Maas wrote:
> As said the Raff Regression Channels are daily RECALCULATED AND therefore
> CHANGING DAILY. Trends do not excist per day but in an overal period. In this overal
> period extremes are hit upon, registered and when giving too much resistance will
> lead into the price bouncing off. An extreme is set. This extreme point will be the
> Linears basic value for the future. Daily highs and lows, open and closes are NOT
> these extremes, but only a part of the long road wich will lead up reaching these
> extreme points, the secundairy movements. The primary move/values in/over time
> is Linear Regressions basics.
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Ton,
I think you're mssing something. The technique to which I referred, from the Nov.98 TASC,
is to define the Raff channel based on two points and then extend it out toward the right
(future time, prices). The author's claim is that frequently the next rally or decline will
bounce off the lines projected into the future. These lines will not bounce around on a
daily basis once they've been fixed.
I make no claims for the technique working. I was just struck by how many such llines are
converging only a handful of points above the presentlevel of the S&P 500.
Regards,
Fred Bender
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