CHARTS_CCI_SYSTEM

[dindindon]

Re: snootmagruder 2213/1.618

Thank You for the chart

Your calculation is the same as the one in my chart & table, it is a simple Fibonacci play. Most of the traders are trading in a small swing, 2213 is still way ahead of the curve. Quite a few technicians are calling 2020 as the possible short term "top", one step higher is 2032/33, below 2020, we have 2014.75 (0.382 1820.66-ATH), session high 2016.50, i did not check intraday wave numbers, looks skirmish too me.

R. N. Elliott's analysis of the mathematical properties of waves and patterns eventually led him to conclude that "The Fibonacci Summation Series is the basis of The Wave Principle.".
- Fibonacci relationships http://en.wikipedia.org/wiki/Elliott_wave_principle