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VST upside targets


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#1 Net

Net

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Posted 24 January 2007 - 11:10 AM

ES 1445.75 and SPX 1438.31 These are the .618 expansion targets. I've observed VST that the 1.000 upside targets have been missing since I started watching the ES/SPX in November (my short entry targets were missing by about 2 pts, which looked bearish to me). The downside projected target for the recent selloff (ES) was .618 = 1431.5 and 1.000 = 1427.0 with the low 1426.75, so the 1.000 target did hit on the downside whereby it's been missing on the upside. The above projections (for a new high) are based off the 1/10 low, subsequent high, and recent low from Monday. Those are .618 targets. The 1.000 targets are as follows: ES 1457.5 and SPX 1450.13. Got stopped out even on my first short probe (i.e., break even stop after being up on the trade). Next short probe is below the .618 target by about 2 pts at 1443.5, as the 1.000 targets have been missing. Looking to establish IT short. If 1446 is exceeded, will evaluate either for breakeven out on a pullback, or using intraday projections to determine where to put the top; probably no more than 4 pts loss.