The Appointed Levels:
I draw a line to connect the highs of 6/10 (46 1/2) and 7/14 (59 5/16) to get a slope of 0.557 points per day. Extending that forward gives us other points on the line:
Thu 7/29 65.44
Fri 7/30 66.00
Mon 8/03 66.55
Tue 8/04 67.11
Wed 8/05 67.67
I believe that we will not significantly break that line, if we break it at all. But mainly, I believe that the point at which we close the "Goldman Gap" will be very close to this line, which is just one more thing pointing to a peak next Monday.
(FWIW, a friend of mine notes that 6/10 to 7/14 is 23 sessions, which is a prime number, and that 0.618*23 = 14 sessions, which would be Tue 8/04. He's very excited about this. But since he seems to be able to see some kind of prime number and/or 0.618 Fibbonacci factor in just about every set of numbers he ever sees, I ignore him.)
(Note that these are based on "straight" graphs. Larry Dudash, for one, prefers to use semi-log graphs, so these numbers would be a little higher there.)
It looks like Prudential was yd's 550K buyer, huh? LOL
Nice to see us break yd's high after the early dump today. That keeps it from looking like yesterday was they peak. Go "They"! |
