Short Term Trading Member Forum

[airedale88]

belt, LOL. one more chart for ya. SP500, 5 wk fld and 5 wk LMA and 10 wk flds.

top chart shows the green 5 wk LMA, red fld. notice that at the late august 20 wk low, 5 wk LMA actually turns up early (we would not know this at the time due to the lag). that shows the trend affecting the 5 wk cycle is up. a trendless market would have it bottom right at the turning point. notice it does top at the 5 wk cycle top. it flatlines a bit near the 5 wk low (both fld and LMA downside targets for the 5 wk cycle are undershot, bullish) and then turns down just as the price action fails to break the 5 wk fld to the upside on 10/03. that failure is the turn in the tide for the larger trend. 10/4-10/5 action also breaks the 10 wk fld (in a time period more than 1/2 way thru the 10 wk cycle so we can take it as a valid cross) and that projects to the mid/high 1180's. we have over shot that target but i believe this area will hold as we are very near the 2.5 wk low.

http://charts.barchart.com/chart.asp?sym=$INX&data=A&date=101305&den=LOW&evnt=off&am...