Thursday, May 1, 2014

A quickie SPY suggestion

Got to start looking at the freely traded markets instead of the indices.  So here's a biased (I'm a hopeless bear) look at SPY's move since the March 6, 2009 bottom:
Two rectangles that evenly divide the time period that is based on a suggested top on May 5 at 193.  As it turns out, the equal rectangles divide the suggested period on exactly the 2011 low and panic low of October 4, 2011.  Interesting.

More noteworthy, the price time area (at 10 cents per day) from zero forms the square root of 2.  Similarly, the 10 cents X 1 angle bisects a seeming expanding diagonal triangle (EDT) at the top right of the chart (black boundaries).

Here's a drill down on the suggested EDT:

Look at the time components of the internal waves of the suggested triangle:

Certainly, a rocket in 3 days could get SPY to 193 but.....

Jim

1 comment:

  1. In working out the projection with SPX I found a 1922 top. I should have rounded SPY down to 192 rather than 193. I'd consider either a success given that at the date of this comment its 1871.

    Jim

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