Friday, February 14, 2014 3:15:02 PM
A 'relative strength' index in a different perspective ...
Here is a chart that assume all indices has a simple wave structure 'A/B/C', 'C=A' (ignores the "authoritative" wave counts from those genuine E-wavers' for the moment), therefore, a 'relative strength' can be compared amongst the indices. In this token, DJI is the weakest one. as is, avoid excessive "reading the tea leaves". for better visibility, a wave extension aiming on the sub segments is necessary, refer to this table (SPX)
(chart date 10/19/13, edited with with the latest data)
Here is a chart that assume all indices has a simple wave structure 'A/B/C', 'C=A' (ignores the "authoritative" wave counts from those genuine E-wavers' for the moment), therefore, a 'relative strength' can be compared amongst the indices. In this token, DJI is the weakest one. as is, avoid excessive "reading the tea leaves". for better visibility, a wave extension aiming on the sub segments is necessary, refer to this table (SPX)
(chart date 10/19/13, edited with with the latest data)
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
