Chariot Share Discussion Threads

[andonis] 19/10/2009 08:35

MC I have made a conscientious effort to explain it to you . I find your laughter a little unfair. Just ignore the chart. Use linear if you prefer.

[andonis] 19/10/2009 08:25

Yes they do. You do not seem to understand the tools of ADFN plotting. Have a play first to get confident with it. The straight line tool acts like someone with a pencil and ruler draws a line over a chart. Linear or logarithmic.

[mornington crescent] 19/10/2009 08:12

you dont seem to understand

if a line touches the index at say 9430 they must both have the same logarithmic value and linear value on either chart at that point

[andonis] 19/10/2009 07:47

MC I have plotted real data on logarithmic scale. There is nothing linear (linear line). The resulting points you can fit as it happened a different linear line on the logged data. At least 3 points through them, which I did. So there is consistency with SPX but DOW data seem to be more exponential. Log plotting facilitates viewing often simplifies it. Especially when data rise in exponential form, which reduce to straight lines after applying a log to them..

If people prefer linear then do so. I have given you both here so pick your choice. I like logs when things rise faster than their legs allow.

[mornington crescent] 19/10/2009 07:13

then lets see it bend

what you have there is a 'linear' line on a 'logarithmic' graph

[andonis] 18/10/2009 20:41

sure I agree...You asked me where it came from and I said its log scale.

[mornington crescent] 18/10/2009 20:40

you dont seem to understand

if you have a straight line i.e x=y+3
then when you apply a log scale to it,it is no longer straight but bends with the effect of the log scale you have chosen i.e log e , log n, log 10 etc

[andonis] 18/10/2009 18:36

Here is what you see and get confused perhaps.
This chart helps explain an ABC correction Fridays level. However 50:50 chances this will rise further to 10350 ending there on 3 Nov. (likely) ending C. For now the trend is up as we have not seen any lower lows. It will change soon for the appropriate waves.

[andonis] 18/10/2009 18:29

It scales it...I dont see your problem. Just tick the log option.

[mornington crescent] 18/10/2009 18:26

so advfn does not scale the line to the graph scale ?


anyway it just begs the question

is that a valid line or not ?

[andonis] 18/10/2009 18:13

Ginger it could be ABC .If leading diagonal then a wave A is here B is coming and then wave C is coming hey ho, tears to shorters. But even then a correction for wave 2 would come...I certainly do not favour the 400 level of Prechter So a leading diagonal for wave A is not a problem, wave B will come and then higher highs for C .Now wave 4 does not overlap wave 1 for the Dow bringing doubts for leading diagonal but not for certain...What is clear however is that 10350 is 50% of the fall from the highest high. Reaching this level is probable but not necessary. Whats your take?

[tpaulbeaumont] 18/10/2009 15:01

Interesting take Ando. A leading diagonal is a very bullish call :)

[andonis] 18/10/2009 12:01

The numbering above maybe more exact as shown, with a 5 subwave 'E'. I have not shown it as such...cant be bothered.

[andonis] 18/10/2009 11:24

:-) Mornington Crescent Note the log scale...It helps. Try it.

[mornington crescent] 17/10/2009 23:58

andonis
there is something odd about the trend line from the low on those two charts.

the first chart looks ok

but in the second one , there is a touch around 9430 which doesnt occur

is this yet another problem with advfn charts ?

interestingly though, there is a second touch on SnP

[andonis] 17/10/2009 16:45

Excellent website for trends.

[andonis] 17/10/2009 10:10

Over the next few days up until 29th October we could see a pullback, but depending on the level of the pullback the support line could break, (arrow). If it does, then the point 'e' would of course not occur. That situation could be a failed 'e' wave. Going short then would be low risk. However there is a strong possibility that the level 10350 would come, most likely around the end of 3rd November. If it does then a number of cycles close too, and fibonacci levels. So if 10350 comes then shorting from there is also low risk. Note the labeling would be ACB there, the A and B as shown the C being where I have the E.

[go_baby_go] 15/10/2009 10:18

The Dow will push close to 11k and most likely drop off the cliff couple of weeks before the new year. Thats my thoughts.

[andonis] 15/10/2009 09:33

the question is how much above 10k

[navyan] 14/10/2009 19:34

DOW is gonna top 10K sooner or later by the looks of it.