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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.