which way monday, page-35

Yeah, so that June distribution on the S&P500, that all happened just below the 3/8th retracement of the move down from the May 08 high.

May 08 high 1440.24 - 666.79 = 773.45

773.45 / 8 x 3 = 290.04

290.04 + 666.79 = 956.83

June top 956.23

Now here we are again, with an similar upward titling distribution (?) right below calculated resistance, this time 1/2 the major range down which is 1121.44 and Friday's high was 1119.13.

On the daily, the last 2 days have been all but identicle to the day of, and the day preceeding, the June top.

Now there is a voice in my head saying "this probably isn't the top for the rally as there was no exhaustion at the high" and the answer is "that is because the rally isn't over yet, we have to put in a wave 5 next year".

GL PPL