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Here is the chart. It should be self explanitory.
We might test the top of the channel. It is hard to say. Who knows?
Frankly I don't care. What I do care about is that this pattern that I
have observed holds true.
Since MAs are Jarvis Class indicators I took the 50 day MA
and set it equal to the 10 day MA.
With a little bit of algebra. I solved for the close at time t.
I shifted all time periods ahead 1 time period. The resulting number
will tell me when the 10 MA = 50 MA.
SO on Monday if the up/down Vol Ratio is greater than 4.037 then the
10 MA > 50 MA. Not that Monday has any significance mind you.
I had also tried this same analysis on the NASDAQ. Like the chart I sent
everyone.
But it didn't work. After a few days it dawned on me that the NASDAQ
double counts volume. So I went to my composite. Multiplied by 1/2 the
up vol & the Down vol.
Bingo same results, same patterns that are present in the DOW.
Harley Meyer
Attachment Converted: "c:\eudora\attach\Dow.gif"
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