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It looks like the fall in the ADX has to do with the 14 period averaging
that takes place. It would suggest that if the price continued up the ADX
would turn up once the decreasing values of the close drop out of the
average prior to the pivot low. This is one reason why ADX is confusing as
the trend is already underway when it turns up.
BobRoeske
----- Original Message -----
From: <Intel55@xxxxxxx>
To: <bobrabcd@xxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Sunday, October 10, 1999 9:46 PM
Subject: ADX in SPZ9
> Anybody have any opinions on the 60 min ADX line of the SPZ9? It has been
> trending down during the entire rally form 1267 and 1280 swing lows. New
to
> ADX and not quite sure its implications. coud it be considered a negative
> divergence? The 1355 area looks to offer some good resistence in the SPZ.
A
> trend line from the highs crosses there tomorrow and the 50% retrace fom
the
> all time highs to the 1267 swing low is there also. The Nasdaq comp looks
> like to pop, but the stochs do not look all that great. opinions??
>
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