RE: [RT] 88 Years of DJIA history -- the good and the bad

["EAdamy" <eadamy@xxxxxxxxxxxx>]

I have pretty strong overhead resistance in the 1492+- area basis September. On positive side, price managed to rally and close above the May-March trendline on Friday so we could see some support there which would be more or less sideways correction. My work shows a mixed bag of plus and minus, however I suspect we could see the expected retest next week which would tie in with Clyde's turn date. Breadth models suggest that any retest in the next week or so would be at higher levels. We also have a full moon and Bradley turn date here.

 

I have a short on here and will add at 1493+-. I expect to take profits quickly unless we get more negative fundamental news ... this is the biggest downside risk.

 

Earl

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From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Ira
Sent: Sunday, August 26, 2007 4:19 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] 88 Years of DJIA history -- the good and the bad

My monthly chart shows downside pressure and divergence at the high.  Even though these are negatives the Weekly and Daily show upside pressure.   the daily chart indicator is over extended which indicates that there should be a couple of days  of horizontal or downside price action. 

 

Just one man's opinion,

 Ira

www.thetradersguide.net

 

 

----- Original Message -----

From: Clyde Lee

To: realtraders@yahoogroups.com

Sent: Sunday, August 26, 2007 1:45 PM

Subject: [RT] 88 Years of DJIA history -- the good and the bad

Just for new readers:

 

The Tradestation indicator called  The SwingMachine is given

a specification for detection of pivot (turning) points and keeps

tract of all such points (in time and price) for the entire period

of the chart on which it is applied.

 

Price is kept in terms of percent of current price so that a

proper average/estimate can be made at any point in time

thereafter.

 

The attached shows to most optimistic and most pessimistic

views that can be accumulated from the 88 years of weekly

data that was analyzed.

 

Remember this is nothing but a representation of what has

happened in the past.  For those that think the market tends

to repeat patterns of price this is an excellent study.

 

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Clyde Lee                 phone: 713.783.9540
SYTECH Corporation
7910 Westglen, Suite 105
Houston, TX  77063     fax: 713.783.1092
WebSite:       www.theswingmachine.com
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