|
PureBytes Links
Trading Reference Links
|
RealTraders,
Nature's Pulse' Automode has projected 10/9/97
for a possible change-in-trend day, and week ending 10/11/97 for a weekly
cit, for the cash SP 500 index.
Using the Dynamic Cycle feature,
(set on calendar days, 8 bars, 89 pivots,
Golden Section multiplier) for the index provides a
high bar for 10/9/97, and a high bar using 1.27 as
the multiplier. {Looking for the match is an idea learned here on RT; thanks
due Don Thompson}.
Analyzing weekly price data, an external retracement, of the high of
week ending 2/22/97 and
the low of w.e. 4/19/97, at 2.62 has been exceeded,
975 is history. From high of w.e. 8/9/97 to low of
w.e. 8/23/97, an external retracement at 1.38 approximates 992. And, a price
projection duplicated from the low w.e. 7/20/96 to the high w.e. 8/9/97
is at 989.5 from the low of w.e. 4/19/97.
Analyzing end of day price data, an external retracement (2X) from the
9/22/97 high to the 9/25/97 low shows 984. A price projection from the low
of
8/15/97, matches the move from the low of 6/23/97
to the high of 8/7/97 at 988.
The vix had an Automode (F6) for today, 10/7/97.
Usually a change in direction, possibly an acceration.
If the vix continues dropping, the implicit conclusion to
draw is that trees now do grow to the sky. To help
dampen that desire to purchase calls here, take a
look at the 21 day money flow oscillator on the SPY,
it is still in the red.
Keeping in mind I am not a CTA, etc.
You might want to consider whether to short this
stockmarket, tighten stops, take some chips off the
table. If 984.5 is exceeded tomorrow morning,
it may prove to be only temporary support.
On the other hand, if all these esoteric ratios fail to
provide resistance, do not hesitate to go with the flow.
p.s. PulseRate projected 10/10/97...
p.p.s. There are also astrological connections
at this time -- ask Norman Winski
Comments fielded. Sorry, no chart attached.
Rory Lewellen RL2946@xxxxxxx
|