I'm attaching today's pic file for the most probable price points. If it doesn't show, I'll attempt posting it again immediately; sometimes it doesn't download on my first try. Only the lower cash S&P targets posted last night are currently viable: 1214.17 1209.53 1204.89 That bottom price of 04.89 has reached, as I am posting this, 8:50 ET, it's June futures price, 1202.25 low. The actual adjustment would be 1201.75, but who's being picky? Also notice that there's a dashed line at 1199.89. That's an automatic 5 pt target added to the precalculated low price. Statistically, my extreme targets, in this case the low, if exceeded during the day session, will typically exceed in 5 pt increments. I"ll know if this is the case once we hit the opening bell. Also, I'll be able to determine if there will be a likelihood of even lower adjustments and, again, that will typically occur in 5 pt adjustments. I'll explain more later, but no time now.
Hi Dave For today's FAS price target, on your web, it shows price 4 =106.73 price 5 = 106.62 , is it a typo? It looks too close to me. Thanks
Skewing based on opens not bad at this moment and my internal strength numbe is also in an appropriate range, above -40%, which I realize doesn't mean anything to you right now, as I've never explained it, but it's an ok number. Right now the low of the overnight should hold, but I'm still retaining my 5 pt down adjustment for the moment.
Obviously, the downgrade news event of Portugal & Greece tanked the market. Lots of programmed trading also kicking in gear. Statistically, I've had very few, and I mean very few days in which I will see the market sell 15 pts below my low target. The only exception was the crash. We had that instance on the 16th of this month, almost to the tick. We just punched an are rallying off that extreme at this moment. The fundamentals haven't changed regarding US economic indicators and earnings reports, so today's action doesn't concern me. I would like to see some recovery today from this point.