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- Where Relative Strength(RS) compares 2 objects' strengths to each other
- The Relative Strength Index(RSI) measures a single object's internal strength.
This latter one RSI is written by Welles Wilder.
Read on further down below for more answers.
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
----- Original Message -----
From: "scheier"
To: <metastock@xxxxxxxxxxxxx>
Sent: vrijdag 14 april 2000 16:19
Subject: Re: Eat thy words : Mark Mobius & Abbey Cohen
> I presume those rather cryptic remarks regarding Waxdaq were all in
> some humor: "According to the RSI, the WAXdaq level to expect a
> Turnaround....to take place = its former breakout 2923."
1. Nope. Plain fact on a maturing <rising to adult-hood> index.
Back in 1990 I had asked my Data Provider here in the Netherlands to include
this Index, since that it not only represented *the other* NY bourse, but also
represented the High Tech Co's, which are the engine's of anyone's economy,
and Index is therefore a (slightly) Modern version of the in the Dow Theory common
sense down to earth approach of what makes or breaks *the Society*, eg
our world.
2. Ofcourse. In humor, spicing the shorthand mail a little......................
a. WAX=soft (and this too can be a crypt by itselve, since the software companies
are a {major} part in that index).
b. WAXcore=also opposite and < HARDcore
c. 2923=here we come {friday the 14th, always an unlucky day !!}
> What in the world does RSI have to do with predicting a future
> target? Would like to hear you expound on this technique if there's
> really anything to it.
New to TA?
RSI
The RSI is the only single indicator that can predict price levels(+slightly lesser the moves),
the price level where an indicator(in this the Price) should + ought to be.
Plots
In a Chart it is plotted
1. In its own inner window the internal strength is plotted in a 0-100 scale.
2. In the Base Security window it is plotted atop of the Price indicator.
Reading
On Chart this is done by comparing its internal strength to its actual external realised values.
Like the weather forecasts, it is not always 100% fool proove, but comes closest to.
Interpretation
For interpretation and further info be refered to Manuals/Helps/Books on the RSI etc.
Leader
It is also therefore the one indicator that stands way above any of the other basic set of
indicators that were developped over time {and that are many}, as well above the non-basic
indicators.
Results
There are indicators nearly achieving what RSI can/does, but the results are often also
of a lesser degree.
Experience
It is one of the first indicators that I have started out with 13 years ago, and if a package would
only carry this indicator in its luggage, its is rich enough to succesfully readthe market(s).
> And why is Abbey Cohen eating her words? From a street analyst, her
> remarks of raising cash are as close to an outright sell signal as
> you ever get from Wall St types. Is seems anybody still long
> mutual funds are eating her words. She's basking in the light of "I
> told you so". You can be sure their best clients already heard that
> advice well before it hit the street.
Never heard of these people. Don't care about what was written here in this section either.
>
> Scheier
>
> "A.J. Maas" wrote:
> >
> > The now being polished of NASdaq..............{falling angel}
> > (North America Shakeout downdive and quick).
> >
> > Regards,
> > Ton Maas
> > ms-irb@xxxxxxxxxxxxxxxx
> > Dismiss the ".nospam" bit (including the dot) when replying.
> > Homepage http://home.planet.nl/~anthmaas
> >
> > ----- Original Message -----
> > From: "Lionel Issen" <lissen@xxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: vrijdag 14 april 2000 0:01
> > Subject: Re: Eat thy words : Mark Mobius & Abbey Cohen
> >
> > > I am missing something. What is WAXdaq?
> > > Lionel Issen
> > > lissen@xxxxxxxxx
> > > ----- Original Message -----
> > > From: A.J. Maas <anthmaas@xxxxxxxxx>
> > > To: <metastock@xxxxxxxxxxxxx>
> > > Sent: Thursday, April 13, 2000 12:19 AM
> > > Subject: Re: Eat thy words : Mark Mobius & Abbey Cohen
> > >
> > >
> > > > Since the WAXdaq lost its shine.......................
> > > >
> > > > According to the RSI, the WAXdaq level to expect a Turnaround(=major
> > > support)
> > > > to take place = its former breakout 2923.
> > > >
> > > > Your counts are always welcomed, tho.
> > > >
> > > > Regards,
> > > > Ton Maas
> > > > ms-irb@xxxxxxxxxxxxxxxx
> > > > Dismiss the ".nospam" bit (including the dot) when replying.
> > > > Homepage http://home.planet.nl/~anthmaas
> > > >
> > > >
> > > >
> > > >
> > > > ----- Original Message -----
> > > > From: "Rajesh" <rajesh@xxxxxxxx>
> > > > To: <metastock@xxxxxxxxxxxxx>
> > > > Sent: vrijdag 31 maart 2000 17:45
> > > > Subject: Eat thy words : Mark Mobius & Abbey Cohen
> > > >
> > > >
> > > > > Re : Nasdaq
> > > > > I'm willing to take them (Mark Mobius & Abbey Cohen) head on. I don't
> > > > > at all think that the Nasdaq is going to crash. If you see the chart,
> > > > > you
> > > > > can clearly see that this is a devastating c-wave of an
> > > > > a-b-c correction. Mark & Abbey have done the perfect tango with Elliot
> > > > > in
> > > > > reading the unfolding of the c-wave in advance.
> > > > > Looking at the chart you can see
> > > > > 1. the a-wave from the market top
> > > > > 2. the b-wave (in clear 3-waves) going to make a possible double top
> > > > > 3. the c-wave downwards which has unfolded
> > > > >
> > > > > This c-wave will be in 5-impulsive waves downward but the daily chart
> > > > > shows no breaking-up of the c-wave, hence it is a monowave and in
> > > > > order to see the internal structure of this c-wave you will have to look
> > > > >
> > > > > at
> > > > > the hourly charts.
> > > > >
> > > > > Coming back to the Nasdaq chart
> > > > > 1. You will notice the a-b-c formation made by the market during
> > > > > January/February 2000 after a sustained rise from mid-October 1999. In
> > > > > this
> > > > > a-b-c flat formation, the b-wave crossed the market top and the c-wave
> > > > > failed to go below the bottom of wave-a. Hence, the formation was an
> > > > > irregular failure. This was the first sign of strength in the market.
> > > > > The
> > > > > subsequent rise to the market high of
> > > > > 5000+ fell far short of the expected rise that should follow an
> > > > > irregular
> > > > > failure pattern. The only conclusion one can draw is that the rise was
> > > > > corrective in nature, qualifying it as either a larger degree B-wave or
> > > > > an
> > > > > X-wave.
> > > > > 2. In all probability it was an X-wave leading me to believe that the
> > > > > a-b-c formation (we are in the c-wave of this formation) after the
> > > > > market
> > > > > high of 5000+ is only part of a corrective combination which
> > > > > by itself is suggesting tremendous strength in the market.
> > > > >
> > > > > In my opinion, the market may not even fall into the price zone of
> > > > > the first a-b-c which is approx 4250. Even if this level is broken,
> > > > > the market will never go below the c-wave of the first a-b-c which is
> > > > > approx 3750.
> > > > >
> > > > > If these readings of mine are correct, then when the fall is over, the
> > > > > Nasdaq composite would commence it's most phenomenol bull run in
> > > > > it's history.
> > > > >
> > > > > Ciao
> > > > >
> > > > >
> > > >
> > >
> > >
>
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