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Now having had time to examine an analysis based on monthly
data it is time to examine a shorter time frame.
The attached analysis was accomplished by setting SM up to
do a rolling 10 bar representation of the data and then
pick peaks and troughs from that and assign the exact point
of inflection from an analysis of the daily bars. It is
kind of like making a channel of 10 bar highest highs and
10 bar lowest lows and treating these as daily highs and
lows for purposes of determining inflection points.
In this case from 1921 to present there were 91 patterns
which began with a 94 leg. These patterns were sorted and
averaged into a set of 7 possible patterns of what might
happen after the last turning point.
As of today only 3 of the 7 patterns are possible (time has
run out on 4 of them).
The most BULLISH pattern left would top out in about 6 1/2
weeks near the 9950 level.
The other two patterns both top out near 9425-9475 and the
tops are projected in 1 1/2 and 3 weeks.
Remember, ALL PROJECTIONS ARE SIMPLY AVERAGING OF PAST
PATTERNS WITH SIMILAR CHARACTERISTICS. No "magic" just
"fact".
Clyde Lee
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Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: <clydelee@xxxxxxx>
7910 Westglen, Suite 105 Work: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
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Attachment Converted: "c:\eudora\attach\djda0718.gif"
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