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24 Feb YMH1 Stretch reversals


24 Feb Summary: For the second consecutive day, fading the first move testing the mid-range of the previous day, was followed by a sequence of moves approximately equal to 4.25% of the Stretch followed by .382% and .618% corrections within the larger 4.25% of the Stretch calculation move. There were price moves that fit within the (3, -1) formula; but once again, each of those (3, -1) price moves that fit the criteria for the (3, -1) formula was followed by symmetrical triangles in a descending market. Explaining these moves would have doubled this post, which is to serve price move measuring projections.


24 Feb YMH1: Fading the first move up from the open, 12094 + 2.618% of the Stretch = 12094 + 40 = 12134
23 Feb mid-range resistance = 12140
24 Feb high = 12136
12094 + 40 = 12134 = 12094 + 2.618% of the 24 Feb Stretch calculation
Crisis in Lybia: oil up equities down,... with very large price swings.... 12134 reversed lower ...

12134 - 4.25% of the Stretch calculation...
12134 - 106 = 12028... YMH1 prices reversed up 4.25% of the Stretch...
12004 + 110 = 12114, .... 12004 + 4.25% of the Stretch calculation =
12004 + 106 - 12110.

12114 retraced that 4.25%, testing 12004, printing 11995 briefly with a quick 40 point bounce = 1.618% of the Stretch, i.e., 40 points which is a .382% correction in the larger 4.25% decline, and continued lower, slightly more than 2.618% of the Stretch to the low print for the week, 11964.

12114 - 106 = 12008.... which bounced up from 11995 to 12035
11995 + 40 = 12035 = 11995 + 1.618% of the Stretch = 12035, which is exactly a .382% correction before reversing to 11964.
12035 - 72 = 11964.
12035 - 2.618% = 11970, which is where prices printed this weeks low and rallied through 25 Feb, Friday, which printed an accurate (3, -1) formula measuring objective.

The 11964 low corrected higher to 12083.
11964 + 119 = 12083
11964 + 106 = 12070 = 11964 + 4.25% of the Stretch to 12070.

12083 corrected lower by approximately 1.618% of the Stretch as prices traded in the last minutes of the B session.
12083 - 46 = 12037 (12033 = 24 Feb settlement)
12083 - 40 = 12043 = 12083 - 1.618% of the Stretch calculation.


The (3, -1) formula satisfied the 25 Feb range with a simple fade the first move and buy long after a little follow through lower from the last few minutes of the 24 feb B session.
YMH1 Trading from unchanged, 12037, prices continued lower by almost one 25 Feb Stretch calculation (26), i.e., 12037 - 26 = 12011. 12012 = 25 Feb low. Today's price action has patterned as a uni-directional market. The (3, -1) formula has been satisfied, which is indicative that prices have resumed the irrational exhuberant rally, i.e, minus one Stretch down, 12037 + 26+26+26=12115, i.e., (3, -1).