FWIW, halfway back of this week's high to lows is the 2866's. During this uptrend the market has liked to have sell off's at or soon after the open that are reversed before making the higher high. Anything can happen, and this is not a prediction. Just noting some facts about recent events.
In regards to halfway back, just my own observation, and anticipation, I currently have 2900.00 - 2925.00 new highs, making a halfway target of 2875.00.
But 2875 is halfway back from a high that has not yet happened. Right now, based on yesterday's actual traded high 2889.25, the HWB for the week is the 2866's.
Right now, we have an intraday up trend in a bear market with an outraday sell signal. I will be looking for the intraday uptrend to reverse and get short again today. If stopped on my outraday trade, I will also be looking to get short outraday again.
Correct, has not happened, but anticipate to happen,until current price proves weaker than yesterdays price, it would still be valid, to me. For me or anyone to wager, one must have a positive expected value and outcome forward looking. For me to not take an upbet above 2870.00, I would have to fire myself. For me to not anticipate higher multiples, would mean I have no idea were I am headed. Over all the market may be a 50/50 game based upon entry, but I only play games that I anticipate a 100% payback and more, progressives.
We're trading different timeframes and different rationales. Halfway back on this rally is for me, somewhere around 2600.
HWB for this rally from 12/24 is same for me as it is for you - just as HWB week high to low is the same for you as it is for me. It is all math, and is universal.