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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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