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Jim,
You might be interested in this. One of the tools I use is Worden Bros TC 2000. I have customized some formulas to identify and count stocks exhibiting certain patterns. With this and some other tools I try to forecast the direction of the market for the next day. Thus far I have been right 80% of the time forecasting the NDX and 66% of the time for the SPX. However, my sample size is too small to get worked up as yet.
As I experimented with various stock patterns, I noticed that a Cooper pattern (Lizard) and another called Wide Range Extreme Close (I forget the author) combine very successfully. At the close today, these patterns strongly favored the Sell side. Additionally, the Dow 30 and the NDX close near the daily lows. As a result, I am anticipating at least a lower open and possibly a down day Friday.
Steve
>>> <Jpilleafe@xxxxxxx> 05/18 3:04 PM >>>
Hello All,
In my work,...IMPORTANT TURN DATE 05-19 is 19 market days from key low 04-24.
Since 12-31-99, a key turn has occured every 19-20 mkt days: 12-31-99 + 19
mkt days = 01-28 + 19 mkt days = 02-25 + 20 mkt days = 04-24 (Key Low) + 19
mkt days = 05-19. I am confident this is a valid count,...as projecting
forward,...from 05-19 + 19 mkt days indicates 06-16 Full Moon, and 19 mkt
days from there is Fri. 07-14. Again 07-16 is Full Moon, as well as a Lunar
Eclipse. A myriad of methods indicate 07-14 as a KEY PIVOT. Again,..the
fact that this 19-20 mkt day count "hits" on 07-14 validates it as a cycle
count, here at this time. Getting back to current 05-19 pivot date,...other
methods pointing to 05-19 date include: Parallax Long-Scale Dow turn #3 of 6
dates for 2000....and friend Pete Bresnahan has 05-17 to 19 as a Harmonic
Energy extreme.
Just knowing that a pivot is due, does not suggest the direction of the move.
However, I am very encouraged by the most recent Concensus Survey on 19%
Bulls Stocks. After reading only 21% last week....the Consensus Weekly
Survey came in at at 19% Bulls on Stocks this week, and the 19% reading is
the lowest survey reading since 04-94,...(except for 19 on 08-14-98 and 17 on
08-28-98). Firmly "under-believed", such pessimism is "bullish" from a
contrary perspective. Consensus % Bulls on Bonds only 23%,...is similarly
constructive. Consensus Survey of futures traders is a more "immediate" or
intermediate term indicator,...good for next 2-6 weeks,..etc. The Investor's
intelligence weekly survey of Investment Advisors is a longer term
tool,...and at 49.1% Bulls and 33.6% Bears suggests market has downside risk
longer term. In my mind the Consensus Weekly survey is most timely.
Anyone else have any thoughts or expectations for 05-19 to 05-22 as a Turn
Point
in their work,....based on astro,..etc. Would be appreciative of any
thoughts.
Best Regards, JIM Pilliod jpilleafe@xxxxxxx
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