The long view…

Posted on Jun 03, 2012 by in Letters


http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=0&dy=0&id=p10598217450&a=268628380

We have often demonstrated that the long term view of the market is not expressed in daily bars.  In Sacred Chickens... we documented the power of weekly bars as a method to discard noise in the market and serve as a Dow Theory length trading method.  Just as we filter hourly and intraday noise by using daily bars we can do the same with weekly bars.  There are two methods to use to determine the end of momentous trends -- the breaking of the long term trendline and the violation of weekly Basing Points.

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