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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 652.56-1.5%4:00 PM EST
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To: Stcgg who wrote (57594)8/1/2000 11:12:43 PM
From: NucTrader  Read Replies (1) of 99985
 
BIG WAVE 1 DOWN -

Top 5133 (3/10), W1-1 down to 4455 (3/16), W1-2 up to 5079 (3/24), W1-3 down to 3227 (4/17), W1-4 up to 3900 (5/1), W1-5 down to 3043 (5/24)..

Let's see: Using W1-1 down to predict W1-5 (from above data), we get (5133-4455 = 678). 678 x 1.618 = 1097. 4455-1097 = W1-5 of 3358. It was actually 300 points lower. If we rough out our current W1 (of III) down the same way, we get (4282 - 3643 = 639); 639 x 1.618 = 1033. 3643-1033 = 2610 as a guesstimate of the minimum down. Any other methods out there?
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