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

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6. The Ultimate Signal – A Very Reliable Indicator

An ultimate signal is about as close to a sure thing as one gets in technical analysis. It is common – one can expect to see a signal several times each week – and it works. From the summer of 2005 through the spring of 2010 there are only two cases in which the prediction called for by the signal has not yet printed.

First, a definition of when an ultimate signal is given:

If any of the six bars of the am sequence or the MEJT sequence is a reversal bar, it gives an ultimate signal.

There are two types of reversal bars:

  1. An outside reversal bar has a higher high and lower low than the bar which immediately precedes it and closes very near, or at, its high or its low. The subsequent bar ...

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