RE: [RT] DJIA @ 61.8% Retracement Level

[Pete Lieber <plieber@xxxxxxxxxxxxxx>]

Don,

We are both correct.  Today's DJ high = 8518.57.  A 38.2% retracement from the the March 9 low (6469.95) back to the August 11, 08 high (11867.11) = 8531.48.  A 61.8% retracement from the the March 9 low (6469.95) back to the October intermediate high (9794.37) = 8524.56.  Thus the October intermediate high nearly equals a 61.8% retracement from the the March 9 low (6469.95) back to the August 08 high.  See the attached chart.

On the attached chart you'll notice another projection tool, which comes from Tom Joseph's program - Dynamic Trend. I'm currently evaluating the program.  The program uses the concept that contra-trends in a bull or bear market can be contained within what he calls a "room".  In a bull market contra-trend  the "room" can be defined by the security's high forming the upper left hand corner of the room and the contra-trend low forming the lower right corner of the room.  By measuring the size and shape of the room the program makes predictions on where the next top/bottom will occur.  On the chart you can see hown the Dynamic Trend projections line up with the 10/08 - 3/09 retracement levels.

In case anyone is interested the next graphic shows a screen capture of a DJIA 15-minute bar chart at 10:32 am Wednesday morning.  The T. Joseph projection pretty much nailed today's DJIA's high.  The next grahic shows a projection made on an SP500 15-minute chart.

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To: realtraders@xxxxxxxxxxxxxxx
From: dewers@xxxxxxxxxxx
Date: Wed, 6 May 2009 19:02:06 -0500
Subject: Re: [RT] DJIA @ 61.8% Retracement Level

Peter,

You mean .382 don't you?

 

My MACD is confirming this move so far, which is interesting and we have a ways to go until we get to the .382 from the 2007 top?

----- Original Message -----

From: Pete Lieber

To: realtraders@yahoogroups.com

Sent: Wednesday, May 06, 2009 9:16 AM

Subject: [RT] DJIA @ 61.8% Retracement Level

This morning DJ-30 hit the 61.8% retracement level from the September 08 high to the March 09 low (see attached).

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Attachment: DJ 1-hr 050609 4pm Dn Trend.gif
Description: GIF image

Attachment: DJ 15-min 050609 1032am.gif
Description: GIF image

Attachment: SP500 15-min 050609 400pm.gif
Description: GIF image