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Before you referred to "retracement tool", I was in general agreement that the
usual lot of "indicators" do not lead the market. However, if we expand the
definition to include trend channels and standard retracements, I do believe we
have leading indicators. By leading, I mean a reasonable indication of where the
market is headed - nothing guaranteed but improved probabilities. Your
definition of leading may vary.
Earl Adamy
-----Original Message-----
From: Bill Eykyn <t-bondtrader@xxxxxxxxxxxxx>
To: TNAGLE@xxxxxxxxxxxxx <TNAGLE@xxxxxxxxxxxxx>; RealTraders Discussion Group
<realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, March 25, 1998 12:39 PM
Subject: Re: Gen: Jungle Drums start to rumble
>None of the RT replies or the mass in private mail that to me came up with a
>single 'non-lagging' indicator. I simply don't believe its feasible. And
>I don't count things like a retracement tool which shows a .382 or .618
>retracement (or extension). I don't mean volume (which on the Bonds, I
>don't get, but I do track the tick volume to get a feel for the noise).
>Volume is a tool within the market and very useful if you have the real
>thing, real time.
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