Turning point forecasted by our model

Extract from this morning mailing list


Turning point forecasted by our model
Date: Fri Dec 6, 2002 8:16 am
Subject: Understanding globex

Before the main subject, just mention you we have reached turning
point on weekly scale 0 (0 mean from calculation made LAST friday not
from current week) for both Dow (see 8635 which is the DUAL of MAX
PROJECTION and its support at 8584
w.swf) and cac (see 3151 base of bearish cross pattern
w.swf) .

Now the main subject of this mail is "Understanding globex"

On interpretation guide
) we said about globex:

"Future contract act as the spot during globex session.

Spot and Future are quoted together during RTH (Regular Trading
Hours). There is usually a price difference called spread between
spot and future contract du to interest rate. But Future can also be
quoted alone without spot during Globex Session. We observe,
comparing prices with our model levels that, during post-market
globex session, it behaves as it was the spot without adding any

Yesterday was a good illustration see illustration below:

The day before yesterday, Dow closed juts above the bearish cross
pattern of scale 1 and made a recovery from this turning point
following projection path up to the max projection of 8829 in theory
in practice it made a high of 8828 on GLOBEX MORNING (so within one
point from the projected value). Since it has done it already this
part of cycle has been consumed and during RTH (Regular Trading
Hours) it didn't do it again and we saw a continuous slide down along
the projected down path. This slide was truncated at 8611 theorically
by the min projection on scale 2 (daily scale see
OT1d.swf) ; in real it made a low at 8608 (3 point error).
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