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The MEJT System: A New Tool for Day Trading the S 500 Index by Jeffrey Tennant

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1. The MEJT System: Background, Definitions and General Principles

Introduction

Kudzu is a plant which grows in many places. It is native to Japan and China but has made an effortless transition to the United States, where it has proliferated so much that it is known as the vine that ate the South.

Most technical analysis techniques are like kudzu. They flourish everywhere. Bollinger bands and moving averages may have been developed for the stock market, but they work for commodities and futures as well. Stock traders also routinely use these and other indicators to trade the Forex market. When a new security or a new market begins trading, technical analysts use techniques they have used with other issues to analyse it. If something trades, ...

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