Replies to post #92 on New Energy Systems Group (fka NEWN)

[jonesieatl]

W%R, also abbreviated as Wm%R, or even %R, is actually Williams%R, an indicator I use a lot.

In this case on my CHID chart I have set periods for the indicator at 9, thus W%R(9). In other situations, depending on the timeframe I am looking at, I may set periods at 14, or 28.

Description of W%R
http://www.stockcharts.com/education/IndicatorAnalysis/indic_williamsR.html

In the following chart W%R is still showing weakness and a bit of indecision. The red candle touching the lower BB the other day, then the white candle printing the next day, is, IMO, a good spot to start watching closely, especially since Aroon Down moved from 100 to 87.50 at the same time. W%R(9) crossing 50 (with direction being towards 0) is a good confirmation sign that momentum has possibly changed in the upward direction. It can take one or a few days for W%R to confirm this move. The longer it takes, the less I rely on the overall setup.

All IMHO and FWIW. -jonesie (seems IHUB is doing maintenance, not sure this chart will come thru, if not I'll re-post later)