Sept $5 Dow, fading counter trend Stretch pullbacks
August 27, 2010 price rotations... ymu0 (Sept$5 Dow) where Stretch calculation= 45 = X and Stretch Fibonacci ratios: From the 9920 low, +128 (i.e., 11 pts above 2.618X=117) corrected 42 pts (32%), rallied 100 pts (58 pts above the 10048 breakout) and reversed -45 pts (X=45) to 10061, basing 13 pts above 10048, ... then rallied into the close (10143 +176),i.e., to the high at 10146 (10146-9920=226.) 4.25X=191 pts.
Thanks for your posts. I'm back testing the Fibonacci Stretch calculations. Does anyone have data on fading the first move?
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