CONTENTS

Letter from the President - Page 3

Editors note - Page 4
Consolidation Patterns through the eyes of Volume by Ananth Madhav - Page 5
5 Price action tips that will make you a better Swing Trader by Rajat Dutta Page 8
10 things that will improve your trading results quickly by Steve Burns Page 13
Designing a trading system Part-4 by Subhadip Nandy Page 15
Understanding Market Profile by Pit Trader Page 18
Dow Series Paper review of 2001 Sign of the Bear by Claudia Mincucci Page 21
Past and Future Events Page 25

This newsletter is produced by the Association of Technical Market Analysts. All comments and editorial material do not necessarily reflect the organization's
opinion nor does it constitute an endorsement by the Association of Technical Market Analysts or any of its officers, of any products or services mentioned.
Sources are believed to be reliable at time of publication, but not guaranteed. The Association of Technical Market Analysts and its officers, assume no
responsibility for errors or omissions.

AUGUST 2014

ATMASPHERE | 2

LETTER FROM THE PRESIDENT

Dear Colleagues,
Unchartered waters, whether in the markets or in managing any other affair, bring a sense of excitement as well as an anxiety of the yet unknown. Prior
supports / resistances, comparable other previous parameters become less relevant and the journey ahead is of re-inventing ones repertoire of skills and
abilities. Same way, ATMA having established a wide spectrum of activities and services for its professional members, is in the phase of re-inventing and
consolidating its gains, so far.
Reaching out to new chapter locations, connecting with a growing number of business schools, raising the level of engagement within digital and physical
spaces for our memberships are some of the chosen goals for the moment in this ongoing process of re-invention and rejuvenation.
If as a member of the organization or as a member of the wider community of Technical Analysts, you have any new initiatives in mind then do reach out
and share with us. We will be compelled to work on your suggestions, assiduously.
.
Sincerely,

Sushil Kedia

AUGUST 2014

ATMASPHERE | 3

EDITORS NOTE

In this issue 1. Ananth Madhav explains the way to trade Consolidation patterns with the help of Volume in his article Discipline in Trading

2. Rajat Dutta provides 5 tips that can help to become a good swing trader.
3. Steve Burns shares his wisdom and experience in his behavioral analysis piece 10 things that will improve your trading results quickly.
4. Subhadip Nandy brings fourth part of his series - Designing a trading system.
5. Alex a.k.a Pit trader introduces the concept of Market Profile.
6. Claudia Mincucci presents yet another brilliant review of the MTAs Dow Award winning paper of 2001 Sign of Bear.

We await your feedback on ATMASphere. Please let us know what we can do to deliver content that meets your needs by sending an email to
editor@atma-india.net. You can also subscribe to ATMASphere completely free by clicking here.
Sincerely,
Gunjan Duaa.

AUGUST 2014

ATMASPHERE | 4

Consolidation Patterns through the eyes

of volume
The typical behavior of consolidation patterns is lack of price
direction and volume contraction.
During sideways movement Price often gets confined between two
lines which can be horizontal (support and resistance) or angular
(triangles, wedges). The consolidation period ends when price breaks
support or resistance. Breakouts which are accompanied by volume
only sustain.

1. Ascending Triangles: An Ascending triangle is a Bullish pattern

with an upward sloping line (support) and a flat top line
(resistance). The pattern will have higher lows which show
decreasing selling pressure every time price goes near the
angular support line. It can have 2 or
o more highs near the
resistance line. Volume contracts during the triangle formation
and increases once the breakout happens.

Patterns such as triangles and flags are commonly seen in sideways

market.
Lets see how volume behaves in a trend consolidation phase and
breaks out in continuation of previous trend.

Volume behavior in triangles: Triangular patterns are created

during
uring consolidation phases, representing a temporary pause in the
ongoing trend before continuing in the trend direction. A triangle is
formed with at least 2 touches on the converging support and
resistance lines. Volume contracts during the triangle form
formation
period. Triangles can be symmetrical, ascending or descending.

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ATMASPHERE | 5

2. Symmetrical Triangles: These are very similar to pennants,

are formed by 2 converging lines. These have lengthy formation
periods.
eriods. These triangles are also sometimes called Coils
Coils, which
means that like a coil,, price is consolidating and tightening to
finally open up towards the trend.

AUGUST 2014

3. Descending Triangles: The pattern will have lower highs

(resistance) and a flat bottom line (support). This pattern
may have 2 or more lows near the support line. Volume
contracts during the triangle formation and increases at the
time of breakout. This is more accurate at the times of
Downtrend , when the price is moving lower but find support
at some exhaustion point or pivot point and from there it
consolidates and brings more sellers in the market and finally
break towards the trend, the breakdown moves are usually
fast and furious after the breakdown. A close below is
preferred than a penetration of the support line for taking a
trading decision.

ATMASPHERE | 6

Volume Behavior in Flags: A flag is a small rectangular pattern

which is formed against the trend. If the trend is up, the fl
flag forms in
a downward sloping manner. If the trend is down, the flag forms in
an upward sloping manner. Volume is an important component in a
flag pattern. The flag pattern should have a flag pole, which should
form with an increase in volume and should contract during the flag
formation and Increase at the time of the breakout.

Ananth Madhav, A CMT aspirant, is a full

time trader having 6 years of experience,
teaches TA, core member of ATMA Hyderabad which is to be
launched soon. One can reach him on ananthmadhav@live.com
AUGUST 2014

ATMASPHERE | 7

5 Price action tips that will make you a

better Swing Trader

The areas that I have highlighted are the correct support and
resistance levels. Often times you will hear traders say something like
this: "The support level for XYZ stock is 28.76."

What is price action?

Price action for swing traders is the art of looking at individual
candles to determine the probable direction of a stock - without
using any technical indicators.
Ultimately, analyzing price action tells you who is in control of a
stock. It also tells you,
ou, who is losing control: the buyers or the
sellers. Once you are able to determine this, you can pinpoint
reversals in a stock and make money. Learn the price action tips
on this page and I guarantee you that you will be a better swing
trader.
Let's begin.
Tip # 1.
Identify support and resistance levels Specific price.
This is a no brainer. Identifying support and resistance levels is
one of the first things you learn in technical analysis. It is the
most important aspect of chart reading. But, how many traders
really pay attention to it? Not many. Most are too busy looking at
Stochastic, MACD, and other's .Some
Some traders think that a support or
resistance level is a specific price. Wrong. It's an area on a stock
chart. Let me give you an example.
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ATMASPHERE | 8

Tip # 2.
Analyze swing points
Swing points (some call them "pivot points")
Are those areas on a stock chart where important short term
reversals take place? But not all swing points are created equal. If
fact, your decision to buy a pullback will depend upon the prior swing
point. Here is an example:
Look at the area that I have highlighted in green. You may have
considered buying this pullback. Now look at the prior swing point
high (yellow highlighted). There are two problems with buying this
pullback. First, there isn't much room to work with! The distance
between the pullback and the prior high is too small. You need more
room to run so that you can at least
east get your stop to break even.
The second problem is this: The prior high (yellow area) is composed
of a cluster of candles. This is a strong resistance area! So, it will be
very difficult for a stock to break through this area. Instead, look to
trade pullbacks where the prior high is only composed of one or two
candles.

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ATMASPHERE | 9

Tip # 3.
Look for wide range candles
Wide range candles mark important changes in sentiment on every
chart - in every time frame. They mark important turning points and
can often
Be used to identify reversals. Take a look at the
Following stock chart:

AUGUST 2014

This stock was moving lower in October (highlighted) and then

suddenly it dropped more significantly than on previous days. This
created
The wide range candle and it marked an important turning point
(actually the bottom!).
You can also use wide range candles
andles to identify when a stock might
reverse. Looking at the same chart.

ATMASPHERE | 10

This stock reversed inside of prior wide range candles. Why would a
stock do this? Because all of the traders that missed out on "the big
move" now have a second chance to get in. This buying pressure
causes the reversal.

Tip # 5.
Find rejected price levels

On candlestick charts, lower or upper shadows on candles usually

mean that there is a hammer candlestick pattern or a shooting star
candlestick pattern (if the shadow is long enough).

Tip # 4.

Narrow range candles can also tell you that a reversal is imminent.
This low volatility environment can lead to explosive moves.

Regardless of the name, these shadows mean one thing: A price level
has been rejected. Imagine what this hammer candle looked like
during thee day (before it became a hammer). It was really bearish!
But, at some point during the day, the bulls rejected the lower price
level. I can imagine the bulls saying,

Narrow range candles tell you that the previous momentum has
slowed down. Buyers and sellers are in equilibrium but eventuall
eventually
one of them will take control of the stock!

"Hey wait a just a second. You bears have taken this too far. This
stock is worth much more
ore than the price that you moved it to."
And the buying begins.

Narrow range candles lead to explosive moves

AUGUST 2014

ATMASPHERE | 11

Rajat Dutta is a system designer and a fund manager for Moneyrizing

Wealth Management Company. He is a trader since 2000
2000. His
specialty is trading micro trends with a focus on analyzing and trading
Stocks, Option and commodities. He can be reached at
rajat@moneyrizing.com

AUGUST 2014

ATMASPHERE | 12

10 Things that will improve your trading

results quickly

the desire to make money not the urge to be right or prove anything.
Trading is a business like any other and when the new trader stops
treating it like a hobby, doing it for entertainment, or for the
emotional rush they can start making progress.
You can be a profitable trader if you are willing to do the work.

The simple truth is that 90% of traders over the long term never
breakthrough to profitability. There are many reasons that keep new
traders unprofitable permanently. They make the mistakes of the
mind: letting their fear affect their ability to let a winning trade run,
they let their greed take over proper position sizing, and their ego
stops them from cutting a losing trade short and keep it small after
they have been proven wrong by price action. Also even you develop
a winning trading system it must be traded with discipline and focus
or it will not work.
Many new traders never really understand that the money
management system they are using to trade their method dooms
them to failure regardless of winning percentage or the size of their
wins if their position sizing is too big. If a trading method is not
traded with the right position size then the first losing streak will be
their last.
Many new traders are disappointed and even quit when a trading
environment suddenly changes. Markets change from volatile to
tight price ranges, from defined support and resistance to breaking
out to new all time highs and trending, from Bull Markets to Bear
Markets. What works in some markets does not work in all market
environments and multiple trading systems are needed.
New traders do not make it in the markets because they are unable
to put all the pieces together. They have to develop and trade a
methodology that fits their own personality and works in multiple
market environments. Once they have the system it must be traded
with discipline and focus. That motivation to trade must come from
AUGUST 2014

Here are ten insights that could help direct new traders in the right
direction.
1. The best money managers in the world return 15%-20% gains on
capital consistently. Targeting large annual capital gains of over 20%
only comes with greater risk exposure. The greater you reach for big
returns the greater the danger of a large drawdown. The best way to
avoid the risk of ruin is to stop trying to get rich quick, and begin to
develop a method that will produce consistent returns.
2. A trader must develop a plan for entries that give a good
risk/reward ratio. The stop placement must have a have a good
probability of success based on historical price action. The trader
must also have the ability to take decisive and immediate action
when their buy or sell signal is hit. It is not enough to have a trading
plan it must be followed with discipline.
3. Trading is not about quantity of trades it is about the quality of the
trading signals. Focus on taking only the best signals and begin to
eliminate the lower quality ideas. Profitability is about quality not the
quantity of trades.
4. Good traders make decisions based on facts, probabilities,
statistics, and with logic and reason. Emotions, greed, and ego have
no place in entries and exits, just the facts.
ATMASPHERE | 13

5. High quality trades, many times, will not be perfect but they have
to be taken when they are close enough to the entry that they do not
need to be perfect to be profitable. There is an art to setting
parameters around entries and exits
xits in your trading plan.
6. Position sizing of your trades will determine your trading success
as much as the quality of your entries and exits. You have to trade a
position size that you are comfortable with to keep the volume of
your emotions down so you can hear your trading plan. Also the size
of your losses has to be small enough to survive a string of losses that
will eventually occur.
7. Follow simple trading systems and create signals based on basic
principles. Complicated is generally not moree profitable. Choose a
few key indicators for price and become an expert in them.
8. The most important thing a trader can do is to be open minded in
the educational process, and continue to learn after consistent
profitability is achieved. Taking short cuts
uts through intense consistent
study is a very cheap detour. The new traders should be studying at
the beginning and not trading real money. In the markets, egos are
very expensive things to have in the very beginning.

Steve Burns has

been investing in
the stock market
successfully for
over 20 years and
has been an
active trader for
over 14 years. He
is the author of six
books all
published by BN
Publishing. He
ranks near the top
500 of all reviewers
on Amazon.com, and is onee of the sites top reviewers for books
about trading. He has been featured as a top Darvas System trader
on DarvasTrader.com and interviewed for the Wall Street Journal
blog, Traders Magazine, and Michael Covel. He has also been a
contributor to Traders Planet,
anet, ZenTrader.ca, and SeeitMarket.com.
He lives in Nashville, TN with his three children, Janna, Kelli, and
Stephen III. He trades his own personal accounts

9. Trading is more about risk management

ment and psychology than the
actual entries and exits. If you have the right risk management and
mindset you can develop a robust trading methodology and
eventually be successful. Without them no trading methodology will
work, so that part does not even manner
nner if discipline and stop losses
are not applied to any kind of trading.
10. Trading is not an easy path to money but a lucrative one once the
learning curve is scaled, and perseverance finally overtakes the fear
of failure and losing streaks. .
AUGUST 2014

ATMASPHERE | 14

Designing a trading system Part 4

So far in this series, we have covered till the creation of the system. Now let
us get down to coding the system so that we can carry out backrests and
position sizing suited for the system. For simplicity, I am providing the full
codes for Metastock. The codes are commented so that it helps you to
convert the system to Amibroker, Ninjatrader, MT4/5 or any other suitable
software.

(Ref(C,-1)<Ref(Mov(C,13,S),-1)){Close
{Close less than 13SMA}
AND ((Ref(C,-1)>Ref(C,-2))){{ previous close greater than the close of
day before}
AND (L< O- (( Ref(H,-1)-Ref(L,-1))*.55))
1))*.55))){ low of today less than
todays open minus 55% of yesterdays
yest
range}
{} contains the comments, Metastock will ignore whatever is written
within these parenthesis
Now if you select the Trend Breakout ver. 1.0 and attach it to a
chart, it will look like this:

The Trend Breakout System by Subhadip Nandy (codes for Metastock)

1.
2.
3.
4.

Open the expert advisor icon in Metastock and click New

Name it Trend Breakout System ver 1.0
Click Symbols, then click New, Name is Buys
Input this formula
(Ref(C,-1)>Ref(Mov(C,13,S),-1)){Previous close greater than 13SMA}
AND ((Ref(C,-1)<Ref(C,-2))) {the
the close of yesterday is greater than
the close of the day before}
AND (H> O+ (( Ref(H,-1)-Ref(L,-1))*.55))){todays
todays high is greater
than todays opening plus 55% of yesterdayss range}

5. Under Graphics, choose the UP ARROW symbol, color BLUE, click

OK to save
6. Now create the SELL signal with a red down arrow,
rrow, code will be
AUGUST 2014

We now know when to buy or sell and at what prices. We also

know our stopples and exit points. Now we need to know how
much to buy at each signal, i.e.,, what is the money management
ATMASPHERE | 15

method that we will follow. Now why is money management

important?

Hence the quantity the trader will trade is x/R = 20000/50 = 400
Nifty fut.

Determining how much of a currency, stock or commodity to buy or

sell on a trade is an often overlooked aspect of trading. Traders
frequently take a random position size; they may take more if they
feel "really sure" about a trade, or they may take less if they lack
sufficient conviction. These are not valid ways to determine
position size. A trader should also not take a set position size for all
circumstances. Many traders take the same position size regardless
of how the trade sets up, and this style of trading will likely lead to
underperformance over the long run. Though there are quite a few
money management methods bordering on the sublime to the
ridiculous, we will take the Fixed Risk Position Sizing method for
simplicity

Situation 2: SL is 20 points

Fixed Risk Position Sizing

1. Let us assume that the trader is ready to risk x amount per
trade
2. His system provides a precise stop loss ( R) ( this is terribly
important as no money management is possible without a
clearly defined stop loss point)
3. Hence, his position size per trade will be x/R
4. Let us explain this simple concept with an example. Say a trader
trading Nifty futures as per the Trend Breakout System is willing
to risk Rs.20,000 per trade
Situation 1: SL is 100 points.
Hence the quantity the trader will trade is x/R = 20000/100 =
200 Nifty fut.

Hence the quantity the trader will trade is x/R = 20000/20 =

1000 Nifty fut.

Hence, by following a fixed risk per trade a traders position size

varies as per the risk though his absolute risk of loss remains the
same per contract. This method, though deceptively simple will
beat any fixed lots method. Another major advantage of this
system is that it will ensure much lesser drawdown on equity
compared to a fixed lots method.

Now in order to back test our system, let us make the following
assumptions:
1. We use a net capital of 3 lacs. This comprises margin equity
of 2 lacs and risk equity of 1 lac
2. In intraday trading, brokers allow day trades (to be
compulsorily squared off before market close) on a margin
of Rs.10, 000/- per contract of Nifty. Hence, a 2 lac margin
allows us to trade up to 1000 Nifty fut. ( 20 lots) on an
intraday basis
3. Our risk per trade will be Rs.20,000/- ( why Rs.20,000 and
not any higher or lower figure will be clear and will be
explained in the next part of this series once back testing is
completed )

Situation 2: SL is 50 points
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ATMASPHERE | 16

Back testing on Nifty futures data shows the following results at first run of
analysis:

Graduated with Economics with post grad in Business Management. 12+

years experience as a trader and analyst. Was the Head-Research
Head
and
Director-Algorithmic Strategies for one of the biggest commodities prop
firms in India.
Now manage own and prop money based upon self developed algorithmic
strategies .www.quantgym.com

Sounds too good to be true? It probably is .Please check it yourselves and

try to find the loopholes in this back test.. I will continue with back testing,
associated problems and their solutions, robust & stress testing the system
in the next parts of this series.

AUGUST 2014

ATMASPHERE | 17

Understanding Market Profile

Introduction
Marketprofile is development by J. Peter Steidlmayer and the Chicago
Board of Trade. They still possess copyrights for Marketprofile
Marketprofile.
Marketprofile is very different from traditional technical analysis,
Therefore basic is the most important thing as it is little difficu
difficult to figure
out on your own.
1st of all market profile is not an indicator but a tool to understand the
market induced information. Structure of the market profile has been
designed so smartly that it will imitate Old school trading in pits.
To understand any particular concept easiest way is to connect with
something we already knew and pile up on that. For example to understand
arrays in statistical analysis we relate with Excel sheet and process gets
simpler.
Same way if we relate market profile
rofile and all the concepts with trading in
pits where real Auction of buy and sell takes place it will be lot easie
easier to
understand Marketprofile.

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ATMASPHERE | 18

The Auction

The process of auction, Imagine a real auction of coffee beans. For context
let's say, price of coffee beans keep increasing since last month from 7000
to 7800. Today for the auction price open at 7800. The process of bidding
started. Auctioneer set the price at 7820, open call was too high and didn't
get a raise from the men who participated in the auction. Then auctioneer
says 7818, 7816, 14... The up auction of the coffee beans since last month
was over. Sometimes, in bullish environment price gets accepted at open
and start auctioning up from 7820 to 7830...40. Sometimes it goes below,
and then gets accepted as underlying fundamentals are strong and there is
a demand for the product. Prices get accepted at lower range and start
auctioning back and forth. Market participants want to purchase coffee
beans to provide demand of their own customers, so they start getting
anxious and they jump in the auction and start raising the price, in our
example let's assume price went down from 7800 to 7560 and it started
auctioning back and forth in this range. And when market participants
started raising the price it went up from 7560 back to 7800. Same process
has been described in this chart with market profile. Each alphabet is called
as TPOs. That is Time Price opportunity. It is bit technical, and it is basic
building block of Marketprofile, so we will cover that in second chapter.
That's it for now.

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ATMASPHERE | 19

Hi, I often go with nick name Pit Trader.

I mostly trade in index futures and options. I'm Indian National and from
buy but presently stay put in Toronto. I actively trade in both national stock
exchange India (NSE) and Chicago Mercantile exchange US (CME) preferred
instruments are Nifty Future and E-mini S&P 500. Charting platforms I rely
on are Multicharts & R. I'm a programmer myself, and use my own trading
systems based on statistical models and Marketprofile. Also actively trade
in options segment. Now I trade for myself only and a few close family
accounts. Experienced in equity market is of seven years. I use market
profile since four years. By no any means I consider myself a master of
trade but continuous learner. Even though I'm going to cover on
Marketprofile by now any means I'm suggesting that this is the only way to
make profits.
Also try to understand that Marketprofile is not an indicator itself but a tool
to understand market induced information in more structural way.
That's the short introduction about me and the subject I'm going to cover.
You can follow me on twitter @NarcissisTrader.

AUGUST 2014

ATMASPHERE | 20

Dow Award series

The Charles H. Dow Award is recognition for excellence and creativity in
technical analysis annually attributed by the MTA.
The research is about a substantive topic (indicators, strategy or system)
based upon the concepts of technical analysis.
The paper includes data that covers at least one full market cycle and it
must be back-tested with statistical methods.
The analysis and conclusions obtained search to be useful to enhance the
understanding of market action.

His author shares his experience about what he was looking for and how
the research was developed.
Since his point of view, he attributes some kind of serendipity on in making
meaningful technical discoveries.
In November 1992 he was struck by the apparent lack of volatility in the
daily number of advancing and declining issues on the New York Exchange.
Over a period of 21 trading days, the highest single day closing
advance/decline ratio (1) was 1.84 and the lowest was 0.71.
At that time author felt that it was a very small range for a full month of
data, so he decided to wide that range between 0.65 and 1.95 and search
for the same pattern in old data and to look if it was found and what
follows after its occurrence.

The presentation in this edition is

Dow Award 2001 Sign of the Bear

By Peter G. Eliades
This paper studies a pattern which had preceded the most important stock
market tops of the past several decades.
Market tops tend to be more diffuse than market bottoms, often occurring
at different times for different indexes, the search for an effective tool to
identify major market tops has been elusive.

AUGUST 2014

Between 1966 and November 1992 there were only three other periods
when the conditions for the pattern were satisfied. Here are the dates
when those conditions were fulfilled:
January 25,26,27,28 1966

October 17,18,21,22,24,25 1968

December 6,7,8,11 1972

ATMASPHERE | 21

Within an average period of less than a month, the pattern had preceded
three of the most important stock market tops of the past several d
decades.
He extended his investigation and compared other results obtained to
these tree periods of time discovered at first.

One of the items that appeared significant was the length of the pattern
before the consecutive streak is broken. Once a pattern moves beyond 2727
28 market days, it has far less a chance of being significant.
Other important consideration was how the pattern
patte ended. When the
churning streak ended with a high ratio (above 1.95) or a low ratio (below
0.65). All of them ended their consecutive streaks with low ratios.

Data showed that The Dow Jones Industrial Average, on average, advanced
1.7 % from the close of the 21st day in the pattern to the highest
subsequent intra-day high after the pattern emerged.

Finally three basic rules were required to identify a "Sign of the Bear."

On average, it took 10 trading days to reach that high, and the subsequent
decline averaged 15.2%.

1) There must be a streak of 21-27

27 consecutive trading days where the daily
advance/decline ratio remains above 0.65 but below 1.95.
2) That consecutive streak must end with a downside break, i.e. with an
advance/decline ratio below 0.65.
3) The downside break in the streak must be confirmed with either a two
day average advance/decline ratio or a three day average advance/decline
ratio following the end of the streak being below 0.75.

Technically speaking the rationale that explains the pattern defining a "Sign
of the Bear" is:
Search for periods of market strength where the market went for at least a
full month without a big down day.
Period of investor complacency (a full month without a meaningful day of
selling), but not the kind of upside breadth required to sustain a healthy
market advance.
All of this is what a technician could define as a market top.
The confirmation of the pattern is a sharp turnaround to the downside as
required by rules number 2 and 3.
AUGUST 2014

ATMASPHERE | 22

Once that confirmation occurs, history tells us the market iis in trouble.
This paper was being written in 2000, On September 18, 2000; another
Sign of the Bear signal was confirmed.

Stock Exchange with an arrow pointing to April 1998 Sign of the Bear
signal.

A last interesting note that his author pinpoints is that:

Once again, in real time, the Sign of the Bear gave a virtually perfect
signal for a change in the markets personality.

April 1998 proved to be not only a major top for the daily advance/decl
advance/decline
line of the NY Exchange, it was also the all-time
time high on the Value Line
Composite Index (Geometric). That high has not been approached to this
day, even though its sister index, the Value Line Composite Index
(Arithmetic) has since gone to new all-time highs.

This paper is available to the public and it could be

b found at
http://www.mta.org/eweb/docs/2001DowAwarda.pdf or inside the Journal
of Technical Analysis Winter-Spring
Spring 2002 Issue 57
(1) Simply divide up stocks by down stocks on the New York Exchange

It has long been our contention that the geometric Value Line is superior to
the arithmetic one in giving a true picture of the average share of stock.
The chart below shows the daily advance/decline line of the New York

Claudia Mincuccis specialty is trading micro trends

tr
with a focus on
analyzing and trading Stocks, Options, FX, ETFs on a daily basis on the US
and Canadian Stock Indices.
She is a graduate from the University of Buenos Aires , where she studied
Accounting and Business Administration.
She is pursuing herr CMT designation and currently lives in Montreal,
Canada. She can be contacted at cmqcca@yahoo.ca.

AUGUST 2014

ATMASPHERE | 23

World's FIRST E-Library of Technical Analysis

The R. N. Elliott ATMA E-library of Technical Analysis
Inaugurated on 6th October 2012, at the hands of Mr. Robert
Prechter, Jr. the worlds first E-library for Technical Analysts continues
to grow.
A world that is short on time to travel, you can check-out books,
return them as now you have the E-Library that you could access for
ethically obtained, copyright respecting readings using any of your
favorite devices: Whether based on windows, apple, android, kindle
or even nook!

As a well rounded professional you surely wish to read on

negotiation techniques, VBA programming, Statistics,
business biographies, investment classics and a whole host
of subjects. Yes, the R.N. Elliott ATMA E-library of Technical
Analysis regularly stocks up on varied titles that take care of
holistic professional interests of Technical Analysts!

Some of the latest e-book additions in the Library:

Access E-books as well as audio-books on Technical Analysis, Trading

Strategies, Quantitative Finance, and Back-testing, Algorithmic
Trading, Investment Psychology, Hedge Funds, Behavioral Finance &
lots more!

ATMA Members & Affiliates, except for the student

affiliates, can access the library 24X7 by just logging into
ATMAs website. In case you still dont have your PIN No. ,
please feel free to contact ATMA Office and enjoy reading!

Accessible on your favorite Gadget!

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PAST EVENTS UPDATES

Dr.C.K.Narayan

Dr.Sanjay Sinha

AUGUST 2014

Chapter :
Date:23-08
08-2014
Mumbai
Topic: Structuring Technical Analysis
Analysis.
1. Different aspects of Technical analysis.
2. Usage of analysis form.
3. Shortcomings and solutions for
technical analysis.
4. Future of technical analysis.
5. What should one do with technical
analysis in coming years?

FUTURE EVENT UPDATES

Mr.Krishna Rao

Chapter :
Bengaluru

Date: 07-09-2014

Topic: Using Trend Line and Fibonacci

Summary:
1. What is trend?
2. Method of drawing trend.
3. Usage of Moving Averages and
Indicators.
4. Trend Line along with Fibonacci Ratio
5. How to identify Flase Break out without
trend line.

Chapter :
Date:31-088-2014
Delhi
Topic: Elliot and Fibonacci-Understanding
Understanding the
Eternal Relationship
Sub-Points:
1. Elliot-Impulse
Impulse & corrective
corrective.
2. Fibonacci-Important
Important Price/Time
retracement
3. Fibonacci-Important Price/Time
Extension for Projections
Projections.
4. Case Studies of Key large cap stocks.
5. Forecasting Market by combining Elliot
and Fibonacci.

ATMASPHERE | 25

AUGUST 2014

ATMASPHERE | 26

Benefits of Membership with the ATMA

Apply for your ATMA Membership Today!

AUGUST 2014

ATMASPHERE | 27

AUGUST 2014

ATMASPHERE | 28