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<DIV><FONT color=#000000 size=2>Thanks for continuing to beat this drum.
Keep it up.</FONT></DIV>
<DIV><FONT color=#000000 size=2><BR>Steven Buss<BR>Walnut Creek, CA<BR><A
href="mailto:sbuss@xxxxxxxxxxx";>sbuss@xxxxxxxxxxx</A><BR></FONT> </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Richard Estes <<A
href="mailto:restes@xxxxxxxxx";>restes@xxxxxxxxx</A>><BR><B>To: </B><A
href="mailto:tombarry@xxxxxxx";>tombarry@xxxxxxx</A> <<A
href="mailto:tombarry@xxxxxxx";>tombarry@xxxxxxx</A>>; <A
href="mailto:metastock-list@xxxxxxxxxxxxx";>metastock-list@xxxxxxxxxxxxx</A>
<<A
href="mailto:metastock-list@xxxxxxxxxxxxx";>metastock-list@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Friday, December 05, 1997 6:33 PM<BR><B>Subject: </B>Re: S&P-500 ???
--- Wedge or Channel or ?<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 face=Arial size=2>Patterns are in the eye of the
beholder. Indicators are a results of mathematical computations.
</FONT></DIV>
<DIV><FONT color=#000000 face=Arial size=2></FONT> </DIV>
<DIV><FONT color=#000000 face=Arial size=2>Richard Estes</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original
Message-----</B><BR><B>From: </B>Tom Barry <<A
href="mailto:tombarry@xxxxxxx";>tombarry@xxxxxxx</A>><BR><B>To: </B><A
href="mailto:metastock-list@xxxxxxxxxxxxx";>metastock-list@xxxxxxxxxxxxx</A>
<<A
href="mailto:metastock-list@xxxxxxxxxxxxx";>metastock-list@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Friday, December 05, 1997 10:56 AM<BR><B>Subject: </B>S&P-500
??? --- Wedge or Channel or ?<BR><BR></DIV></FONT>Howdy
;<BR><BR> I wrote a few weeks ago relative to a possible
H&S forming on the S&P<BR>500. Well, the Alert is now off. But,
others have posted notes alerting<BR>us to a possible ascending wedge.
Also , much discussion on wedges.<BR> Well, I reviewed Murphy and
Arnold , BUT i dont see a wedge.<BR> I think the confusion between
interpretations lies in using different<BR>start/close
dates.<BR> We Metastock users ought to be able to interpret
the S&P 500 with<BR>uniformity among our group.<BR><BR>
Here goes :<BR><BR>1) The SP500 has been in 4 up channels since
7/22/96.<BR> * 7/22/96 -- 3/14/97 --- 30
deg.<BR> * 4/11/97 -- Aug 10/97 52
deg<BR> * Sept 1 -- Oct 8, 97 --- 48
deg<BR> * Current channel --- Oct 25 --- ?
-- 49 deg <BR> ( Dates are approximate)<BR>2)
Also there is a Divergence between the SP500 and its RSI (14)<BR><BR>3)
Where is the wedge ? I can see a triangle starting in early Oct
.<BR><BR>4) What Next ? <BR> If positive , it will break
thru the Major resistance line at 985.<BR> If Negative , a
possible triple top will have formed.<BR><BR> Hope this helps
.<BR><BR>
Tom<BR></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Sun Dec 07 09:01:50 1997
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Reply-To: "Steven Buss" <sbuss@xxxxxxxxxxx>
From: "Steven Buss" <sbuss@xxxxxxxxxxx>
To: "Metastock-list" <metastock-list@xxxxxxxxxxxxx>,
"jeff f brady" <surfingrincon@xxxxxxxx>
Subject: Re: T/A and Recent US Market Action
Date: Sun, 7 Dec 1997 07:06:54 -0000
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Status:
I don't have any statistical evidence for the following statement but my
feeling is that its close to being true.
The T/A folks who were bearish (and right before 10/27/94 but wrong after
10/27/97)--you may remember that I was in this camp so that the stone I
throw is at myself--were/are looking at "Chart Patterns". But if you're
primarily a "mathematical computation" type, then surely you would have been
looking at weekly/daily MACDs and stochs that would have moderated the
bearishness if not made you bullish from around 11/1/97 through the present.
To put the view I'm coming to baldly, then, a good number of the "Pattern"
folks (and, again, I was/am one of them) just flat out got the post 10/27
picture wrong because the "patterns" weren't (and never are?) enough to get
it right...
I think now I've done my fair share to stimulate more posts to the list.
<G>
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: jeff f brady <surfingrincon@xxxxxxxx>
To: sbuss@xxxxxxxxxxx <sbuss@xxxxxxxxxxx>
Date: Friday, December 05, 1997 8:41 AM
Subject: Re: T/A and Recent US Market Action
>You figure this out, let me know, I posed the same question to the group
>a few eeeks ago..
>On Thu, 4 Dec 1997 02:54:40 -0000 "Steven Buss" <sbuss@xxxxxxxxxxx>
>writes:
>>A couple questions:
>>
>>- Anyone else struck by the number of technical analysts who have
>>been
>>bearish (including me, although I'm an amateur) and wrong recently on
>>the US
>>market?
>>
>>- I've been trying to determine what the technical indicators were
>>recently
>>(since 10/27/97) that should have cautioned me on my bearishness.
>>(I'm
>>putting aside the issue of "long-term" vs. "short-term" here. The
>>fact is,
>>I was/am very impressed by some massive tops and yet missed a 10% up
>>move in
>>the indices.) What should I have noticed? Here's what I have so far:
>>
>> - A simple 5,3 Stochastics on the weekly index charts would have
>>been
>>one caution around 11/1.
>> - A weekly default parameter MACD signaled something similar
>>about the
>>same time.
>>
>>What else was there?...
>>
>>Steven Buss
>>Walnut Creek, CA
>>sbuss@xxxxxxxxxxx
>>
>>
>>
>
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