Morning.
Hundreds of us technical analysts types are providing input and trying to explain why the DJ, SP , RUT have stalled while the NDX has continued to rally.
That answer is really simple and I will explain it with math.
Basically, NDX having a top of 9736 is a zone which is/was easily divided by thirds and just so happens that well, fractal math has a couple of numbers which demonstrate positions of thirds. Such as: .618 and .382)
The high and COVID low of the NDX are in a mathematical sweet spot.
Let's begin with the DJ
DJ High: 29568
.618 of 29568 is 18273.39 (actual low reached was 18213.7)
(18213.7) .382 = 6980.55 (point rally) + 18213 = 25194.2 (So far 24764.8 has been the rally high )
.618 of 24764.8 = 15304
SPX High: 3393.5
.618 of 3393.5 is 2097.18 (actual low reached was 2191.9)
(2191.9) .382 = 3029.21 (point rally) + 2191.9 = 9358.77 (So far 2954.86 has been the rally high )
.618 of 2954.86 = 1826.10
RUT High: 1715.07
.618 of 1715.07 is 1059.91 (actual low reached was 966.22)
(966.22) .382 = 369.09 (point rally) + 966.22 = 1335.31 (So far 1373.39 has been the rally high )
.618 of 1373.39 = 848.75
These three indexes have been waiting for the index with the mathematical sweet spot.
So, using the exact same math.
NDX High: 9736.6
.618 of 9736.6 is 6017.21 (actual low reached was 6771.9)
(6771.9) .382 = 2586.87 (point rally) + 6771.9 = 9358.77 (So far 9346.3 has been the rally high <<--- YESTERDAY)
(9346.3) .382 = 5776.01
The NDX, being mathematically in easily divisible thirds appears to be a bigger "rally" then the other indexes, when in truth, it was just a mathematical sweet spot.
The "over/under" percentages of the other indexes to their respective targets. -1.7, -2.4 and +2.8 for an average of . The NDX rally high is currently -.13 and has entered the +/- 2.3 zone.
So, what does this translate into (Barney style)?
DJI: Rally Topped out
SPX: Rally Topped out
RUT: Rally Topped out
NDX: Rally Topped out
Next lows
DJI: ~15304
SPX: ~1826
RUT: ~848.75
NDX: ~5776
(How to close something like this out? Um...a man walks into a bar - he should have ducked?!)
Place stops, trade safely.
-PriceProphet
Hundreds of us technical analysts types are providing input and trying to explain why the DJ, SP , RUT have stalled while the NDX has continued to rally.
That answer is really simple and I will explain it with math.
Basically, NDX having a top of 9736 is a zone which is/was easily divided by thirds and just so happens that well, fractal math has a couple of numbers which demonstrate positions of thirds. Such as: .618 and .382)
The high and COVID low of the NDX are in a mathematical sweet spot.
Let's begin with the DJ
DJ High: 29568
.618 of 29568 is 18273.39 (actual low reached was 18213.7)
(18213.7) .382 = 6980.55 (point rally) + 18213 = 25194.2 (So far 24764.8 has been the rally high )
.618 of 24764.8 = 15304
SPX High: 3393.5
.618 of 3393.5 is 2097.18 (actual low reached was 2191.9)
(2191.9) .382 = 3029.21 (point rally) + 2191.9 = 9358.77 (So far 2954.86 has been the rally high )
.618 of 2954.86 = 1826.10
RUT High: 1715.07
.618 of 1715.07 is 1059.91 (actual low reached was 966.22)
(966.22) .382 = 369.09 (point rally) + 966.22 = 1335.31 (So far 1373.39 has been the rally high )
.618 of 1373.39 = 848.75
These three indexes have been waiting for the index with the mathematical sweet spot.
So, using the exact same math.
NDX High: 9736.6
.618 of 9736.6 is 6017.21 (actual low reached was 6771.9)
(6771.9) .382 = 2586.87 (point rally) + 6771.9 = 9358.77 (So far 9346.3 has been the rally high <<--- YESTERDAY)
(9346.3) .382 = 5776.01
The NDX, being mathematically in easily divisible thirds appears to be a bigger "rally" then the other indexes, when in truth, it was just a mathematical sweet spot.
The "over/under" percentages of the other indexes to their respective targets. -1.7, -2.4 and +2.8 for an average of . The NDX rally high is currently -.13 and has entered the +/- 2.3 zone.
So, what does this translate into (Barney style)?
DJI: Rally Topped out
SPX: Rally Topped out
RUT: Rally Topped out
NDX: Rally Topped out
Next lows
DJI: ~15304
SPX: ~1826
RUT: ~848.75
NDX: ~5776
(How to close something like this out? Um...a man walks into a bar - he should have ducked?!)
Place stops, trade safely.
-PriceProphet
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.