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Bob,
You wrote,
>The "pressure" being applied to yesterday's
>market by the 2 Day ROC Sell signal was downward in direction.
Further to my email of yesterday and as I said I am no expert on this one as
I don't really use the the Street Smarts 2 day ROC Indicator in my trading
other than as background info and even then only occasionally. Having said
that I still disagree with your interpretation of the "signal" if signal it
be. You were calling for a sell yesterday but the 2day ROC had just
flipped up so is unlikely to flip down again without a further up move which
is what we saw yesterday. Today is more likely to be a flip down day but
you have to look at the number which will cause the Indicator to flip which
today is 122-06. Sometimes when you look at where this flip number is that
the market could still be substantially higher and the ROC could still flip
down. In addition having looked at your gif chart your 2 day ROC does
seem to be incorrect as it seems a lot more 'jumpy' than the version I got
from the publishers of Street smarts.
I would be interested to hear from anyone else using this one who could give
a little more guidance on it's interpretation.
Just food for thought.
regards
Philip
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