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Hi Steve,
I agree about the CIT for the S&P, just thought I send a chart also. I have use
different CITs that all come up with the same dates about. Square 90, first one is
11/5 (30), Fib time zones 11/6 is 21, also using TD of 10, 11/5 (2 retracement)came
up also.
Trade Well,
Joe Frabosilio
Steve Walker wrote:
> RT's
>
> I have been looking for a top in the 1128 SPX area. I arrived at this by
> taking the July top of 1191 less the August low of 939 or 252 points * 75% for
> 189 points. Add this to the August low of 939 to get 1128 on the SPX.
> Today the cash SPX made a high of 1127.18 before closing lower on the
> day. Today is Nov 4, which is a full moon and much has been written in this
> forum of the market declines which often accompany a full moon.
> Additionally, Gann wrote that there is often a CIT in early November during
> election years. I will be watching my short term indicators to initiate a short
> position. I have not calculated my target low based on today's price action
> however using yesterday's I get a downside target of 1015-1050 using Gann
> Angles and 1030-1055 using an Andrews calculation.
>
> Steve
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