The $SPX is still contained by at least one trendline (light brown) although it should be noted that this is a rising trendline...which is why the market has been able to churn slightly higher. Reversals can still take place off of rising trendlines though. The current node value is .51693, still not too far from a perfect .50000. Since .51693/.50000 = 1.03386, we are then 3.386% away from ideal, still not badly off. We are not out of range of this node generally until we have reached about .53000 or so....
3 comments:
Mark: 12/03/09 Yelnick pointing to a 12/11-12/14/09 possible turn date:
http://yelnick.typepad.com/
Are you seeing anything in that date range?
Yelnick says:
"Dates, dates, dates. If nothing else, Fibonacci permutations point to December 10 to 14 for SOMETHING.
A couple very respectable Fib and Spiral Calendar guys (Roy and Kevin) tie the 2000 SPX top and the 2003 SPX bottom to December 12, 2009 (a Saturday, so make that the 11th or 14th). Chart shows the fib dates.
Simply, 1000 days from 1/24/2000 DJIA top to 10/10/2002 DJIA bottom and 2618 days from 10/10/2002 bottom to 12/12/2009 (a Saturday) projection provides some nice Fib relationships. But it’s far more in depth than that and has to do with forming a perfect time triangle. It is well worth studying. Here’s the very interesting math and geometry."
Mark: Another comment. I ought to be able to use their dates and your program spreadsheet "Node_Range_calc2" and get close to their proposed turn of 12/11-12/14?
Their Dow data:
(I added Start date.)
Start: 12/14/98 8676.03 (Bottom)
Wave A: 01/24/00 11750.20 (top)
Wave C: 10/10/02 7197.49 (bottom)
Doesn't like the Wave A price.
Get Err:502. Tested: put 8000 in Wave A price, error clears.
I had a problem before, where computed dates decreased, instead of increased! You pointed out the problem - now can't find my note.
I think that data had two sequential bottoms or tops, and should have be top, bot, top; or bot, top, bot
Anyhow, have to leave now, but back this afternoon. Will take another crack at the dates then.
Hi Bill,
I just scanned Yelnicks article and I see the point he is making. My stuff doesn't see anything unique about 12/12/09, but Yelnick could be right.
So much of the validity of all geometric techniques (including mine) depend on picking the right time scale and reference points or 'seeds'. So he has picked some pretty long range points as his basis, it will be interesting to see what happens...I know that date is still within a bearish window of mine based on a .500 node...
Mark L.
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