So we are in advance, which statistically happens once in a decade and there are some lines in the current area, but who said, we can't go for something even bigger than that this time around?



Somewhere in the coming week I'll disappear for more than 2 weeks for my first holidays this year, so you'll have a chance to rest from me for some time

I measured the pullback at 44.7%. Am I doing something different?

Originally posted by rat89

spy opened with a gap....first pull back to the .486 measured from center of the gap.....then into a 1.46 of pullback and .886 of the whole move down.....

Spy 5 minute chart. Strange coincidence that the 50% mark of the gap happened to be at the 1618/1 and the 146 lines I had marked from prior swings. BTW, roofer said to look at Goog 5 minute for a 1618/1 setup and I did. I found 2 and one was based on the 50% mark on a gap. Good to know it works there too!

OK, I just realized I used the low of the first bar for my gap and should have used the open or high. Then I get 48.6.

Originally posted by tx_ches

I measured the pullback at 44.7%. Am I doing something different?

I'm watching Spy to see if it sets up a TD bull abcd or exp bull abcd. It sure has underperformed compared to Q's and IWM.

I had 134.57 - 135.17 = 134.88 at .486 using the close and the open....hopefully I'm doing it right?

Originally posted by tx_ches

OK, I just realized I used the low of the first bar for my gap and should have used the open or high. Then I get 48.6.

Originally posted by tx_ches

I measured the pullback at 44.7%. Am I doing something different?

as usual, I don't look high enough - this makes more sense than where I was looking yesterday....don't get stuck in what you're already thinking, keep an open mind and keep working

Yes, that set does look better - captures the move better and price "sees" it.

Originally posted by rat89
this makes more sense

Click image for original size

wonder if this little 1.128 will cause a reaction?

Transports at another new all-time high today. Midcaps getting close to their all-time high. Russell smokin' today, up almost double on a percentage basis as the S&P, and close to its all-time high. When all these are setting all-time highs or getting close, I just don't see how anyone can be bearish. Eight days up in a row, now...

watch this....the pres to make a statement after debt summit....just in time for a "logical explanation" for any pullback

I do have to say, as much as I like other work by this author, many commenters called into question if his research was accurate. Perhaps it is not. Nonetheless, that was one heck of a government manipulated ramp, I'll say that.