Re: S&P on the tines of the fork?

[Ned Markson <cnedgo@xxxxxxxxx>]

Michael -

There is a good explanation of the Andrews Pitchfork at

http://www.equis.com/free/taz/andrewspitch.html

Hope this helps

Ned

adcall wrote:
> 
> Hi Ned,
> 
> You wrote:
> >The attached gif is a view of the SnP cash with an Andrews Pitchfork
> >indicator on 10 minute bars.
> 
> As a newbie to the AP, I don't understand the rules for picking point 'A'
> where the handle commences. From examining other examples of AP which
> have been previously posted they usually show:
> 
> 1.  The handle drawn from a previous LOW when the AP crossbar runs from a
> HIGH down to a LOW.
> 2.  The handle drawn from a previous HIGH when the AP crossbar runs from
> a LOW up to a HIGH.
> 
> However, in your example of a decline from 'B' to 'C' you have drawn the
> handle from a previous high. I'd be pleased if you could explain the rule
> that you followed to do this rather than draw it from the previous low on
> April 8.
> 
> BTW, you also wrote:
> >Note that yesterday's market turned at apparent resistance represented
> >by the "handle" line.
> 
> On the S&P June Future I notice that the April 29 high was an exact 0.382
> retracement of the down move from 'B' to 'C'.
> 
> Thanks.
> 
> Michael Soliatis