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ES 11-25-08

daily: 1073 / 736.25
60m: 910.75, 899.50
15m: 916, 884
5m: 875.50,

need to retrace a bit before we get any downside projections

looks h/s ish to me

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Man, so far it sure looks like yesterdays H.W.Steele pivot day may be pretty close to a 'high' in the market.Using my trading days ,instead of calendar days gives .... bingo 837!
Vol NYSE just moved to downside by 129,000.
long 2@ 837, just for a bounce, covering one at 838.50
out bal here
out one 838.50, other at 840.75... up 5.25 on the day
if we run soon to 846 ill sell
POC 36
PP 32.50
bonds pushing up on solid 5 year auction
Important peak due close to 1;45 time frame
Thanks VO. I haven't been working with Kool's cycle projection tool much and was experimenting this PM. I was using the cycle highs and lows and using 1.618 from the end of the cycle. In my notes I had Kool saying to use 2.618 from the beginning of the cycle. Using the 1.618 I had a cycle H to L of 17.5 when fibbed by 1.612 gave me a 28.25 point expectation which added to the cycle low of 833.5 gave me a 61.75 target. For that second cycle projection that negated I had 61.5 - 47.25 = 14.25 * 1.618 = 23 + 847.5 (cycle low)= 870.5 target. That's the one that didn't hit at the end of the session. Maybe I am oversimplifying it.