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Levine created an interesting piece of software in his WinMidas. Since his
passing last sprin, his software is no longer available and his website has
been shut down. Basically the software functions on a volume accumulation and
distribution mechanism. The volume accumulated at the lows in August and
September has been distributed into the October rally. The Top Finder
indicates a mean top (H+L)/2 of 8914. That has been achieved. What is
necessary now according to his theory is another accumulation period before
the rally can resume. The first major support using this technique is 8500.
Another interesting feature was the Sweet Spot. That is the multicolored
zigzag plot in the lower left hand corner. The upper right corner of that box
is the overvalued area. The upper left is the undervalued or fair valued
area. Currently, the Sweet Spot plot has peaked and is headed back to the
left.
BobR
http://www.oextrader.com
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