|
PureBytes Links
Trading Reference Links
|
Hi, Jeffery. The Trend Exhaustion Index and a divergent McClellan
oscillator for Nasdaq would tend to agree with your EW interpretation. Its
this kind of breadth relationship that reinforces the EW turning points.
TEInaz(red one) completed a double peak on Wednesday and Friday last week.
It would have been more convincing though if Wednesday's TEI peak had been
lower than October's as in the April/May bottoming, but its encouraging that
it wasn't higher. McClellan Oscillator is at a higher level than in October
as it was in April/May, but hasn't turned up yet nor has the new high - new
low relationshipd turned up. A low Trend exhaustion is simply an
exponential moving average of new lows divided by declining issues. New
High TEI is new highs divided by advancing issues. The relationshipe
between TEI up(green) and TEI down(red) clearly shows the Nasdaq at the low
side of things.
BobR
http://www.oextrader.com/sigma_trader
----- Original Message -----
From: "Jeffrey Harteam" <jharteam@xxxxxxxxxxxxxx>
To: "RealTraders Discussion Group" <realtraders@xxxxxxxxxxx>
Sent: Sunday, November 26, 2000 12:48 AM
Subject: [RT] Re: NASDAQ COMP. Wave Counts
> Greetings Traders:
>
> The Nasdaq Comp. is nearing its final leg of downmove to complete its
> intermediate correction a-b-c since 03/10/2000. The final wave 5 of c
> has taken the shape of a declining wedge. This is a classical 5-3-5
> Elliott Wave pattern. Regards
>
> Have a good one
> Jeff Harteam
> Hong Kong
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
----------------------------------------------------------------------------
----
-------------------------- eGroups Sponsor -------------------------~-~>
eGroups eLerts
It's Easy. It's Fun. Best of All, it's Free!
http://click.egroups.com/1/9698/0/_/152424/_/975245909/
---------------------------------------------------------------------_->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxx
Attachment:
Description: "TEInaz.gif"
|