Range from May 2011 high to July 2010 low = 1370.51 - 1011.52 = 358.99 points x 61.8% = 221.86 + 1075.37 (4/10 low) = 1297.73. Thursday high 1292.18.
We just covered 5.55 points shy of 61.8% of what took 305 days to do in bull market in just 24 days. That is some move up.
Probability has to be on the side of a rest here, no?
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