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According to the Andrews pitchfork and the Newton indicator on
http://www.bemore.com/newtonin.htm
the stock market is now going up.
The andrews lines seem to be very accurate
they found the top in the S&P in april and the recent bottom here almost to
the tick
Does anyone know how to use them.
Where can I get in touch with Andrews?
Regards
Renate
At 08:56 AM 6/23/98 -0700, Tom Stein wrote:
>I thought I'd follow up on the previous S&P/DJII posts as well(see
>below).......
>
>This is a very similar pattern to the T-Bonds.......first leg down on both
>the S&P and T-Bonds were a clear 3 wave affair leading us to the conclusion
>that we will see new highs(already have on the T-Bonds)......
>
>The trendline breakout of about 1138.00 on the SPU8 should be good for new
>highs........
>
>This may be coming sooner rather than later..........
>
>Why???????????
>
>1)Look at your relative strength between the S&P and DJII.....now look at
>your relative strength between the Nasdaq and the DJII........notice
>anything??????????
>The broader based indexes are much stronger than the 30 Industrials.......
>
>2)We are at the end of a quarter.....very poor time to look to short the
>stock market.........
>
>3)Market is shrugging off all bad news...ie:Asia-no one cares at this
>time....Clinton-no
>one cares at this time.....tech-stock earnings-no one cares at this
>time....look at Intel,Dell etc.......they are going up....
>
>Easiest thing to do is let the market tell us....watch for the trendline
>break-out.......
>
>Tom Stein
>comfut@xxxxxxx
>
>
>
>POST from 5/8/98........
>
>This is the tough part of using Elliot Wave to make
>$$$$$$$$$$.....................
>
>My take is that the Dow Jones just finished either the entire Wave 5 from
>the 8000
>breakout (see my previous posts below) or we just finished wave 3 of 5 and
>are about to enter a very frustrating sideways triangle wave 4 that will
>move the Dow Jones
>from 9300-8800....back and forth 3 to 5 times before the final explosion to
>quite possibly 10,000.......The S&P cash seems to be ahead of this and is
>further along in the wave 4 status....we'll see....I don't know if this
>helps anyone make any $$$$$....except that if we trace out this triangle and
>make new highs later in the summer....it might be an excellent place to take
>some $$$$ off the table....tighten stops etc......the great thing about
>these triangle type patterns is that they alert us to 2
>scenarios........1)there is a big thrust out of them....2)the thrust will be
>followed by a terminal move that will be entirely
>retraced....ie:IF the above scenario is correct.....after the final thrust
>up we may retrace all the way back down to 8800 and maybe even below 8000 on
>the Dow Jones...........
>
>
>Tom Stein
>comfut@xxxxxxx
>
>
>
>
>PREVIOUS POSTS RE: ELLIOT WAVE
>
>
>
>Because I've gotten more questions re: my Jan. post(included below).....I
>thought I'd answer to the group.........
>
>First I must say that when I posted in Jan. I thought I was being realistic
>even though the "numbers" seemed unrealistic to my own mind. I mostly
>day-trade the S&P's and have NOT made as many points as would have been
>possible by taking my own advice.....
>
>The questions that I have been getting, center around "Is this THE top????"
>NO ONE KNOWS......My last post was based on the market completing a triangle
>that took almost an entire year to form....We have now entered the target
>are for the thrust out of the triangle..
>
>Can we go further up???? Of course we can......
>
>Is it dangerous to remain long???? Yes, but that is why placing stops makes
>it less so.
>
>When will we top out???? When everyone you know is in........
>
>When you get involved in a mania...Sugar in the 70's....Gold/Silver in the
>70's...California real estate in the 70's...Coffee a few years
>back...etc........ The people who will make the most money are the one's who
>have no idea of the consequences....If they did...they would be scared and
>would get out.......
>
>What to do???? IF you choose to ride this "wild bull", use stops...you will
>also, leave money on the table, but you will feel more comfortable....If you
>want to try and short the
>market, also, use stops.........My gut feeling is that the best time for at
>least a very sharp
>and quick correction will be after the quarterly money flows subside(after
>4/5)..........
>Watch also, for market behavior to change...ie:good news does nothing and
>bad news really is bad(won't that be a switch?)
>
>Hope this helps......
>
>
>Tom Stein
>comfut@xxxxxxx
>
>
>Post from Jan.
>
>>From my view....the S&P's have a very high probability of taking out
>the high's and thrusting up to possibly 1100-1150 this year.....why?????
>Every decline that we have had since the high....has been a 3 wave
>affair....I believe what most of you have been describing is a triangle
>pattern...which is often a hesitation pattern.....which is usually resolved
>in a thrust in the direction of the previous trend.......
>Since this triangle pattern has been forming for over 5 months now....
>the thrust out of it should be quite powerful.........
>I would take a break above the highs in the S&P as a very bullish
>event......for the Dow the break would be around 8000.
>Often...the thrust out of these triangles is similar to the distance of the
>first leg of the triangle....about 150 S&P points...1200 Dow points......
>Think also, about this point...it works on stocks...futures...etc.....
>IF what you perceive to be a negative event(Asia, Clinton) results in a
>market acting positively....you better cover shorts and get long....the
>market is telling you that it doesn't care....the market is always
>correct...I'm not.
>Just an idea.....Tom Stein comfut@xxxxxxx
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