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

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I got these histograms for suppoert/resistance levels analyzing Dow from 1885 to 2007.
 
Here is the down swing (after July 17, 2007):
 
 
This histogram is calcualted using 794 turning points for the last 122 years. Statistically significant levels are marked by red stripes.
 
and upswing:
 
 
 
It is interesting that the anaysis of time histograms does not provide so strong clustering.
 
Sergey
 
 
 
----- Original Message -----
From: Clyde Lee
Sent: Sunday, August 26, 2007 4:45 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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