| brnxbomber |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Thursday, March 10, 2005 |
| Monday, October 5, 2015 7:09:08 PM |
12
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Had been quite a few posts from Elliott Wave practitioners months back. Assuming some are still checking in, I was wondering if they would share thoughts on the current market direction?
Always interested in cyclical perspectives...thanks.
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I've always used Metastock with the Telechart data feed. Feel it gives me more charting options plus you can purchase plugins. The two plugins I use most are a Walter Bressert trading system plus an Elliott Wave plugin.
Regarding the IBD100, I'll occasionally buy the Monday IBD and manually update a symbol list in Telechart via Microsoft Excel. This gives me the ability to track which stocks have been in the list for what period of time. I do the same for other groups such as the Value Line top 100 and 400. Haven't done this lately for IBD since I won't touch high momentum stocks in what is an overextended market in my opinion (on a drop they'll drop the quickest so currently I look more for value plays as opposed to momentum plays).
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Didn't see these, so I'll add...
Technical Analysis from A to Z by Achelis is a great reference as to how the different tech indicators are comprised
Point & Figure Charting by Dorsey does a great job of describing this complete methodology
Bollinger on Bollinger Bands (includes a good lesson on avoiding the "multicollinearity" trap (whew!) or simply put watch out for indicators too closely correlated)
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Current issue of Technical Analysis of Stocks & Commodities has an article on this subject.
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I believe that ta and fa do confirm each other but the issue is over how much time it takes fundamentals to catch up. I only buy from Value Line's top rated 400 stocks, a lazy person's way to fundamentally value stocks (though they lean towards growth). There are frequent buying opportunities.
Just received my new Worden video on spotting buying opportunities. Unless I am mistaken broadcast media is poised to move up. A couple of VL 400 stocks picked up by these techniques are UVN and SBGI.
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Like many of the previous recs; probably my fav is Bollinger on B Bands. Sounds weird but good info on "multicollinearity" trap; i.e. make sure your indicators don't sing the same song.
For a different perspective try T.Dorsey on Point and Figure Charting. From some previous posts you can see I try to avoid cap-related averages in evaluating sectors. I'm a fan of the bullish percent theory espoused in the P & F methodology.
Good luck in your search.
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Good discussion topic. I look at those indexes (and others) to figure out what the overall market is doing before making any decisions down at the individual stock level.
For many years, my primary index of choice is the Value Line arithmetic average due to it's non-cap functionality. It's currently hovering at a significant level from a fibonacci perspective.
Hope the moderator doesn't kill this link..not from any website, just an aol area where I can share some of my personal charts...
(removed by Moderator)
(sorry, all links must be removed)
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Standard and Poors upgraded to 5 stars.
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That is a stock I own. My philosophy mixes technical and fundamental analysis. Funamental because I use the top 400 Value Line rated stocks as a base against which i apply technical analysis.
PWAV is currently in the top 100 Value Line rated universe.
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There is a good package out there that reads TC2000 data directly. It's probably not something they will let me post, but it is not a competitor to TC2000 in my mind, I view it as supporting software.
In case the monitors might agree, the product's name is (third party product names are removed by Moderators).
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