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BobR
The largest hump down (the last one) is the wave 3 although initially it
would have been labeled a wave 5 (until it exceeded the height of the
previous wave 3 oscillator). The one before it and above the zero line was a
wave 4 originally.
The move back above the breakout band on this largest hump down "could be"
interpreted as a plus for the market but there is no official rule on that
(I am the one who has noticed you might be able to trade off of them in both
directions. It does not always work but then again does enough to warrant
looking at). The break out band is most effective on the start of the trend
(go back to 9-18-00 on your chart after the August high which was completing
a small 1-2-3-4-5 up move see the red arrow I have on the chart). I have
attached a chart from AGET.Note the wave 4's and how the oscillator
identify's them.
As I see it the 5/35 "lost control on the wave 4 rally up on this down move
(exceeded 40% of the previous wave 3). This means I move to Long Term Count
and it relabels the wave 5 a Wave 3 as it should be. I also switch to the
10/70 oscillator now. I have attached that chart too. If we continue down I
would expect the wave 1 and 2 to move to the right . Notice the new
oscillator to zero point is now minor 4 of wave 3 (I labeled it on the
chart).
Hope that helps.
don ewers
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, April 05, 2001 7:25 AM
Subject: [RT] MKT - OEX
> Would the AGet fans care to interpret this 5/35 oscillator with breakout
> bands?
>
> Thanks,
> bobr
>
>
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