Forum Archive Index - July 2002

["Theseus Management Group" <tj@tmg.co.nz>]

fascinating chart for WAM

where can one find the software to create such wondrous things?

TJ


----- Original Message -----
From: "Phaedrus" <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Wednesday, July 24, 2002 9:04 PM
Subject: [sharechat] WAM Chart


> Waste Management closed today at $3.05. This is below the confirmed
medium-term trendline, triggering a Sell signal. This correlates well with
concurrent Sell signals from the parabolic SAR and the Relative Momentum
Index oscillator.
>  The Relative Momentum Index (RMI) was developed by Roger Altman, who
added a momentum component to the RSI (Relative Strength Index).  The RMI is
thus a variation of the RSI indicator.  Instead of counting up and down days
from close to close as the RSI does, the RMI counts up and down days from
the close relative to the close x-days ago (where x is not necessarily 1 as
required by the RSI).
>  These signals are only applicable to medium-term trend traders. WAM is
still in a long-term uptrend, so those using a longer timeframe would
probably continue to hold.
>
>                               Phaedrus.
>
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