The diagonal of the Golden Rectangle is 1.902 or the sqrt((Phi^2)+(1^2)). 1.902 X 100 = 1902.
The 2009 low close in SPX occurred on 3/9/2009. 3/9/2009 + 1902 = 5/24/2014, today. So, can we count the close Monday as if the it occurred today?
The intraday high yesterday, 5/23/2014, was 1901 and the close was 1900. Not quite there.
Gann said to draw angles from important highs and lows…. not just from the bottom up but from the top down as well. Well, we don't know what the final all time high is going to be, but lets assume its the 100 X the diagonal of the Golden Rectangle. Here's the artist's rendition:
Were SPX to close 1902 on Monday, game on IMO.* All that would remain for my happy ending would be for NDX to make the final high as in 1987, 2000 and 2007.** My 'guess' for NDX to top (quite presumptuously assuming such will occur) Friday the 30th as per previous essay.
Thanks to all veterans this holiday,
Jim
*Note: In reviewing the great tops and bottoms (1987, 2000, 2007) the highest close and highest intraday did not necessarily occur on the same day. More frequently than otherwise (as I recall and haven't re checked) the high close occurred the day before the highest intraday high. I have an essay for that.
**Note: When I say NDX make the final high, NDX has not been the first to make the high in a great rally and currently its first among SPX and DJIA with its high on March 7, 2007; SPX and DJIA made their highest highs only this last week. I have an essay for that.
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