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Strategies & Market Trends : E-Mini Pit
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To: the-phoenix who wrote (5748)8/22/2002 9:32:20 PM
From: the-phoenix  Read Replies (1) of 11288
 
Here is the SPX version of the Daily Bearish Gartley:

ttrader.com

Again, not a perfect pattern, but three numbers converge between 969 and 973:

The AB=CD at 969.3 (most important of the three)
The .886XA at 969.8
The 1.786BC at 973

I would have preferred to see the 950 area hold for a cleaner pattern. The XA and BC would ideally be .786 and 1.618 fibs, respectively, so the pattern is a little over-extended, but the AB=CD is very important, so these slightly less "popular" fibs are used to coincide with the AB=CD. This does weaken the pattern a bit, IMHO, but we have other indications that 970 may be a resistance area.
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