To All READERS of this board, please read the following:
Periodically I have been watching the SPX (s&p) and today it has come to my attention that there are red flags ahead that bear close watching:
So I have been running numbers based off the spx 12 month daily chart and have come to at least a sound trial topping number of approx. 2151.5. Stochastics on this one year chart (Pull up the chart and see for yourself.) Has topped out in the area around 100 four times now and demonstrates lower highs each time.
Using Bulkowski's calculations for his 'Big W formation', with our present recent low of 2072 (You will have to go to his page and read how to do the calculation.)I arrive at a number very close to 2151. If I use the low, 2072.5 and multiply it by 1.0382 (Fibonacci#), I am at 2151.66. If I use 2157 and divide by 1921, our former record high I am at a ratio of 1.12, therefore I am going to multiply 1921 X 1.123 (my Fibonacci#) and the results are: 2151.5. Some of the disparity is the difficulty in reading the exact prices on the chart...so we must allow for a minimum of flexibility. I am more inclined toward the 2151 # and will update this board from time to time. Thank you. S.
Please contact me on this page only for further clarification if needed.
AI
