Charts update 7-14-09

I conclude too.

The daily projection from the 7-9-2009 low reads 913.00

Expect a bounce today downwards. 912.75 - 15 pt average is a low near 897.75.

After the close of RTH yesterday, the market made a huge gap.

Whether they will fill this gap today remains to be seen, though indications say that the daily projection and met and we should head south a little. The gap made helps to make this conclusion.

But we have seen gaps not being filled at all the following day but probably in a few day later or weeks.

The lines in 1/8, 2/8 etc etc is Murrey Math Lines. Something that I am seeing some correlation.

As you can see with previous post projection using a 15 pt average range, 898.50 the MM 3/8 Bottom Range coincides with my range downward projection. of 897.75 there abouts.

good stuff L.A.!