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Just been playing with one of Clyde Lee's new indicators (as a beta testor).
The man codes some incredible stuff for TS2000 and Pro.
If the interpretation of the indications are correct, then using ten years
of daily data, the
OEX is projected to trade around 620.61 or between 602.96 and 638.27 on
12/27.
There were 3 day H to L corrections on fib time lines at 10/17 and 11/28 and
the next fib time is {1/8/02}*.
The days 12/14, 12/26 and {1/08/02}* and 1/14/02 have a higher than average
number of correct projection hits.
To quote from his recent email:
"
The "box" at the right hand side is a conventional Fibonacci
set of lines at fib ratios for price and time based on the
last leg seen.
The histogram at the bottom is a count of how many times on
a given day some prior projection of time lines had hit that
day.
The histogram at the right hand side of the chart is a count
of the number of price lines which have fallen within the
selected box of prices around the plotted point.
The channels that are drawn are based on the average of
the slope of the upgoing and the slope of the downgoing
swings measured from point to point as shown by the yellow
lines.
"
enjoy the season,
bobr
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