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-----Original Message-----
From: Ben <profitok@xxxxxxxxxxxxx>
Sent: 5/7/2009 1:13:32 PM
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Subject: Re: [RT] DJIA @ 61.8% Retracement Level
can i share this with another list?
Ben
----- Original Message -----
From: Pete Lieber
To: realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 07, 2009 3:55 AM
Subject: RE: [RT] DJIA @ 61.8% Retracement Level
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@xxxxxxxxxxxxxxx
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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