Tuesday, October 13, 2009

SP: Strange Attractor All Over Again

It couldn't be simpler: the SP low of 666 x 1.618 = 1077.58. Today's high was 1079.46. This has been discussed before. See
SP; What do you think? 

Can it exceed 1080? Perhaps not. It's bumped up near here a couple times before, Sept 23. and Sept 17.

BTW 1078 is also exactly the mid point of the 3 of 3 down ( I have that from 1313 to 840). That point was passed in a vicious dump occurring on Oct 6th 2008, with an open of 1098 and a low of 1008. Definitely a moment of recognition.
Another oddity if you care to call it that; The SP high of 1576 was made Oct 11 2007. What is it about Oct.?

So look out below brother. LOL . A move down would probably have to take out the 50% retrace ( and 4th of a lesser degree) of the last little "e" leg up at 1044 to be taken seriously.
Click on chart to enlarge.

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