Measured-Move Complete at 1375

L

Landis82

First leg off the highs was 128 points.
Subtract 128 off the counter-trend rally high at 1503 . . .

1375

Measured-move complete.
Am done playing the short-side.

:)
 
Quote from Big AAPL:

Beautiful call. Just about spot-on. Great job!
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Yes, outstanding. That is what I like to see, trading calls backed by analysis, not useless drivel like "IT'S THE END OF AMERICA!!!!11".
 
Quote from frank grimes:

I'm with you waggie, you beat me to the punch by a few points, but am out of all index shorts.
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I mentioned this "measured-move" target to Pabst and Longhorns over a week ago via e-mail. The counter-trend high at 1503 gave you the necessary info to look for atleast a .618% ratio of the initial leg down (to 1424) or a full "measured-move" target of 1375 which equaled the first leg down of 128 points.

I also posted this target earlier this week.
Just a classic technical tool from my floor trader days in NYC.
:)
 
Quote from Landis82:

I mentioned this "measured-move" target to Pabst and Longhorns over a week ago via e-mail. The counter-trend high at 1503 gave you the necessary info to look for atleast a .618% ratio of the initial leg down (to 1424) or a full "measured-move" target of 1375 which equaled the first leg down of 128 points.

I
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Sending you a PM to add me to that email list buddy :D
 
Quote from BoyBrutus:

Sending you a PM to add me to that email list buddy :D
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Thanks!

The SPX just retraced 61.8% of the move off of the lows back to 1482.

Put in an intra-day double-bottom and is now powering higher!
 
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