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I SUGGEST YOU UPDATE YOUR CHART ON AAPL.. IT CLOSED TODAY AT 441 AND macd IS TURNING DOWN!
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I feel Don Worden would be well served to view other analyst such as (external link removed by moderator) to better understand Fed's infusion of liquidtity and institutional accululation and disctribution and their affect on the the overall market.. Chenard has been extremely accurate on the market and uses very modern technical analysis based on the above 2 criteria for market timing. He also uses other technical indicators but always refers to the importance of inflowing funds from the Fed.
Since the beginning of Q/E from the Fed, traditional analysis does't work very well for the major indexes.
The 175 point rise in DJIA should not have been a surprise as the injection of Funds yesterday was the largest injection of funds for the month of February.
Am surprised Don never mentions the effect Fed funds injections have on the market.
Just food for thought after reading Don's comments yesterday.
Jim H Joyner
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TC2000 and Stockcharts cakculates the above indicator differently. I recently read that TC2000 is calculating this indicaator incorrectly. Stkchart calculates the ATR for DJ-30 as of 12/2 to be 221.76 and TC200 shows 206.98-big difference. See page 23 of
Wilder's book "New Concepts in Technical Trading Sstems" to get the correct formula.
Just passing on to you what I read-might want to check this out.
Jimmy H Joyner
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Another short term problem is most all indexes cannot maintain a close above their 50 DMA.
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I think CC could be added to your list.
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Craig:
I am using a TSV 18 MOV AVG 10
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I reviewed the chart on TRB this weekend and observed the divergence in TSV and MS versus price in April vs late May. Could you provide a scan formula which would replicate these divergences?
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I posted a note a few weeks ago saying the 80 DMA was the key support for this index. Now that the 80 DMA has been violated after supporting the SP-500 on 3 occasions, it becomes a resistance level. If the 80 DMV provides resistance, the SP-500 will see more weakness. Might want to keep your eye on this development.
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You could be right, that's what AAPL did in Jan.
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