suhre@trwrba.UUCP (Maurice E. Suhre) (01/13/86)
The January 86 issue of the AAII (Am Assn of Individual Investors)
Journal has a two page article by Bob Nurock, designer and "chief elf"
of the Wall $treet Week Technical Market Index. Lou Ruckeyser
refers to the index as the "elves", which is a play on the "Gnomes of
Zurich". Quoting from the article:
When the net balance of indicators equals plus five, a buy
signal is given; when it equals a minus five, it registers
a sell signal.
Using this system, the Technical Market Index has had a
creditable record since 1974. A recent study has proven it
to be correct 81% of the time in forecasting the Dow Jones
industrial average 26 weeks in advance, and 97% of the time
52 weeks in advance--both highly significant statistical
readings.
Usual disclaimers.
Maurice
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