Replies to post #88001 on SPDR S&P 500 (SPY)

[youaretheone]

Here are the Murrey Math numbers for that i was referencing for the dow...we hit the 7/8ths line today on the dow, it is the best short to take, and one of the most often reversals in markets. if the market closes above the +2/8ths line then we have a "frame shift", and the 8/8ths line would then be the 4/8ths (4/8ths = 10,000) line and the 4/8ths line would be the 0/0ths line.

at a bare minimum i expect it to get back to the 5/8ths line rather quickly. if we close below the 5/8ths line then we are heading back to the 3/8ths line. if we close below that, then we have a chance to get to the 1/8ths line.

+2/8ths: 10625.00
+1/8ths: 10312.50
8/8ths : 10000.00
7/9ths : 9687.50
6/8ths : 9375.00
5/8ths : 9062.50
4/8ths : 8750.00
3/8ths : 8437.50
2/8ths : 8125.00
1/8ths : 7812.50
0/0ths : 7500.00
-1/8ths: 7187.50
-2/8ths: 6875.00

move the decimal over 1 integer and you will have the octave for the spx. now you know why i said 1062.5 is the absolute highest the spx will go.