where is the market headed?, page-6

by my calcs the DOW pulled up at 61.8% retrace of the last fall on friday.....that was a 102 point rise. The xjo has less than 40 points to rise before hitting 50% retrace. In percentage terms that would equate (more or less) to an equivalent DOW rise. So for starters that seems like a logical level for the XJO to head for tomorrow (maybe it seems TOO logical LOL). As the day wears on I guess the XJO will then try to anticipate where the US is heading tomorrow night. I'm thinking that having hit .618 it may be time for the DOW to take a spell.