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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (18793)	3/22/2017 7:19:56 AM
From: John Pitera	1 Recommendation Read Replies (1) of 33421

Why the SPX 2341.49 is such an important level today... as you can see the futures are hanging on to that 100% fractal box move at 2341.49 we will either hold on to this level and rally, it we give it up we would logically decline to the cluster of the 1.618% box and .618 box which are clustered at 2287.06 and 2289.13 This is part of a learning tutorial I am doing for a friend.... but I'm willing to share and learn more from the bright minds of SI. HI Chris, yes you are on the right track..... taking Fibonacci retracements and price projections to the next level is when you find CLUSTERS of Fibonacci levels that are right on or just about on each other, and are derived from different impulse and corrective waves. Message 31032788 I originally did all this work using a $233 west German precision compass that could be adjusted to the different ratio's... starting back in 1985. And doing the work with the compass on paper has advantages to using computers to generate the numbers.... The reason is that a different section of the brain is being used one that deals with spatial relations in 3 dimensions. It's the same reason why when you write down information on paper you are using a different part of the brain and getting a more comprehensive neural pathway connection in the brain, as contrasted with simply reading information. Not only does Fibonacci work on retracements but it's possible to do price projections of future higher levels that will be significant to the market. See how the first fractal advance yielded a 1.382 level that is a .382 level of the 2nd fractal that I describe .... and also the 1.618 of the first fractal is magnetically clustered with the .618 cluster .... you should be able to see a faint dotted line from the 11/4/16 low to the 11/25/16 high and that is the 2204.43 level which is the 0.00% area where the second Fib price extension box is built buy. ------------------------------------------------------------------------------------------------ To: The Ox who wrote (18811)3/16/2017 11:51:32 AMFrom: John P 1 Recommendation Read Replies (1) of 18876 SPX -- A better explanation of the fractals that generate the 2 Fibonacci price extension boxes 1) The first 5 day fractal advance from the 6/27/16 to 7/1/16 yielded the 1st and larger Fibonacci time extension box. 2) The 2nd fractal advance from the 11/4/16 low to the 11/25/16 high yielded the 2nd Fibonacci time extension box. the 2nd fractal advance started after we had a complete up and then down cycle from 6/27/16 to 11/4/16. The 18 week cycle. See how the impulse wave from that low of SPX 2083.79 on November 6th 2016 up to high at 2214 on November 25th then generated the Fibonacci price extension box that has provided target resistance at each price projection higher. and the .382 of the the second box is the 1.382 of the first projection box from the june 27th 2016 low at 1991 basis the cash and the first impulse move that took it 2109 on July 1st 2016. The 1.618 price projection box of the move from the June 27/2016 low of SPX 1991 up to that July 1st high of 2109 is also almost perfectly overlaid with the .618 price projection box from that impulse wave that kicked off with the preelection low at the 200 dma on Nov 6th 2016 up to the Nov. 25th high. Larry Pesaveto has an 1 hour and 47 minute video on youtube and there are a couple of related ones where these guys lay right out how they use some really amazing stuff. And since so many institutional systems use this stuff it self fulfills itself --------------------------------------------------------------- Now very importantly, see how important the 2341.29 level is right now this morning as a key support for the market right now.... If we hold it we rally... if we slip below it we will be drawn to the 2289.13 level which is the double cluster of the 2 fractal advances. Katie Stockton, head technician of BTIG was on cnbc 10 days ago and was commenting that a pullback would head to the 2280 level... this is a significant component of how she arrived at that number. This is an additional application and part of the power of being able to calculate the mathematical relationship of different time frames of the market and find clusters and areas of important support and resistance. Chris you will also notice how the entire 18 week cycle from the low in Feb. 2016 and then the next Brexit low in late June 2016... the forward time projections gave us tops and bottoms including the 100% white line that came exactly on the Date of Trump's election where we had the huge overnight sell off and then rebound which is on the Globex 24 hour charts. I shall show you some examples of using different timeframes to develop Fibonacci price clusters on different highs and lows. There are also several excellent videos on you tube that go into these and related sacred geometry concepts in great detail. youtube.com you will probably need to cut and past that link into your browser this is the title of an excellent video Larry Pesavento - Chart Geometry and Patterns now Larry covers an ocean of concepts and information... just watch the video in 10 minute time segements and let the info absorb over time. I will send you links to others that cover different aspects and are not as esoteric. JOhn

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