GLOBEX 12-04-08

Some thing to ponder, besides the 872.50 21 day moving avg on the daily chart.... 1008.50 top- 739 low was 269.5 points and a 50% retracement is ...(drumroll),... 873.75 Small wonder the 872.50-877 zone is giving at least some short term resistance. Also note that the entire crash from the May top at 1441.00 to the crash low at 739.00 is 702 points. 0.236 retracement comes in at 904.50. REMEMBER THE DAILY PROJECTION OF 904.50?(STILL VALID UNLESS 739 IS TOUCHED AGAIN).

of course ...stop run at 7:45! they wanted all the longs out! REad the posts when you get a chance!

gotcha turk...and again welcome

gotta run .. see ya in about an hour! ps: the slight overshoot down of the 851.25 proj is IMPORTANT!.. C ya!

so your a pattern freak too huh Turk...we will get along...what time frame do you trade?

I have traded on a 1 min up until a week ago when I heard someone I really respect say they traded on a 610T, so I changed. I am now back on a 1 min.

If I am calculating the time cycle right on a 1 min. are we looking for a cycle top in the 8:54 time frame?

aahh...I trade the 610T...but its basically the same as 1m, sometimes its like 30s and sometimes 2m (during trading hrs with action of course)

You are the person I am referring to.LOL

lol...I tried 233 a couple years back but was just to fast, which sometimes the 610 can be when things are rocking

50% retracement at 854.5?

with the last major pre market cycle high of 74.25 to the cycle low of 50.5 don't we get a projection of 89.0 unless 50.5 is taken out?