Wednesday, November 16, 2011 12:48:19 AM
Review:
The significance of 1294 can be explained by the following chart
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Posted on 31 July 2011 - 12:01 AM
S&P500 index dipped below 1294 on 07/29, it closed at 1292.28 (1292 is 0.809 out of 1440 & 667), a point slightly below the critical point 1294. The aberration is within the margin; The intraday low 1282.86 ( 1282.14 is 0.786 out of 1370.58 & 1258.07) gives a slightly negative bias. In overall, index is in the weak “Lagrangian points” that can move in either direction quickly.
for 'near term' (loosely defined semantics), let me post three charts:
Fibonacci retracements/extensions projection usually comes out multiple possible targets. chart 2 naild the low 1074.77 closer enough; chart 1 just a few days old; When index dives below 1176, the downward fulsh will start. refer to chart 3.
chart 1 - Posted 12 November 2011 - 05:22 PM
chart 2 - 10 August 2011 - 12:43 PM
chart 3 - Jun 27 2010, 05:27 PM
The significance of 1294 can be explained by the following chart
------------------------------------------------------------------
Posted on 31 July 2011 - 12:01 AM
S&P500 index dipped below 1294 on 07/29, it closed at 1292.28 (1292 is 0.809 out of 1440 & 667), a point slightly below the critical point 1294. The aberration is within the margin; The intraday low 1282.86 ( 1282.14 is 0.786 out of 1370.58 & 1258.07) gives a slightly negative bias. In overall, index is in the weak “Lagrangian points” that can move in either direction quickly.
for 'near term' (loosely defined semantics), let me post three charts:
Fibonacci retracements/extensions projection usually comes out multiple possible targets. chart 2 naild the low 1074.77 closer enough; chart 1 just a few days old; When index dives below 1176, the downward fulsh will start. refer to chart 3.
chart 1 - Posted 12 November 2011 - 05:22 PM
chart 2 - 10 August 2011 - 12:43 PM
chart 3 - Jun 27 2010, 05:27 PM
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