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> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
>The Super T oscillator on the attached chart is analogous to the
>"rubber band" theory of market stretch and rebound. The oscillator is a
>combination of issues, volume, new highs and new lows and is another item
>passed on by Ben, alias Profittaker. Today it closed within 0.39 points
>of the -100 CORRECTION level. Crash level has an eyeball definition
of -150.
Super T oscillator is (as I inderstand it) a way to combine AD issue and AD
volume and new highs-lows oscillators. I should try it (if I could follow
the formula of its construction).
I am looking into McClellan AD issues and AD volume oscillators. What is
interesting that McClellan AD issues oscillator close on Thursday and
the -120 level (within the limit of the correction and short of the -121
level for the bear signal). On Friday McClellan AD oscillator close at -118
indicating that current decline still could be a correction. McClellan AD
volume oscillator is in oversold territory too. AD volume oscillator turned
up on Friday too. But both oscillatiors turned up by lessing the selling
pressure not by buying interest. In other words it was not a spike into
oversold condition.
What is conserning me most is DJ weekly chart. The price retracement is
whithin correction parameters but it should not close there (weekly). In
other words, in correction price "should" go as low as it did, but as a
spike on the weekly chart. Also we do not know if Friday is a bottom. My
hourly charts do not tell me that bottom is in. Another note, price move
seldom reverse on expiration date.
So here we have it. OOH we cannot "prove" that it is not a correction. OTOH
we cannot "prove" that it is a correction.
Oscillating Alex.
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