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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (18970)	4/6/2017 5:09:04 PM
From: John Pitera	Respond to of 33421

Hi Chip..." the force is strong with this one" This one being YOU -g- we absolute had a change in trend between 1-2 pm today just as you mentioned. right at the .618 of the 5 minute which coincidentally was very near the .618 retracement on the 60 minute chart of the 3/16/17 high to the 3/26/17 low. I have been using the 3/16/17 number on the hourly chart as opposed to the slightly higher number we reached on March 1 which was 4 points higher on the June contract. The 3/16 high was closer to the Vernal Equinox and it can be argued that it has more power by GANN aficionados. Message 31058235 Message 31060679 also the time period is so long it prohibits displaying the charts with the resolution where they can be read. here is the 5 minute chart of the past few days action. a shorter look at the 1-2 pm time change in trend today. An Observation on the NDX the market and the traders and some of the algorithmic programs are looking at multiple numbers and looking for clusters and overlays here is a 15 minute globex chart of the NDX... the decline on April 3rd generated a .618 retracement line of 5436 that has acted as resistance and then support and then yesterday we went and established a new high at 5481.65 and a swift decline to 5389..... and the 50% retracement of that range happens to be the same cluster as the previous .618 retracement the 2 different retracement calculations cluster at 5435 This 5435 level capped the rally today and the NDX made it's price high early in the day today and then sold off more vigorously on your time change in trend window of 1-2 pm As I know you know the deeper one looks the more mathematical relationships there are in markets.. and as a long time investing friend of mine often comments ... the market and the traders know where these levels are. JOhn