Zeev, In 1987 the Momentum/Market Lows occurred on 10/19, the market then rallied 26 trading days to 11/25/87, then the market had a very sharp decline of 6 trading days into 12/4/87, to "test" the prior lows. The market then went up for 23 tradings days, to 1/8/88, before falling for several weeks.
Between 10/19/87 and 1/8/88 there were 55 trading days (a Fibonacci number).
In 2002, The Momentum Low occurred on 7/23, the market rallied for 22 trading days, then declined (on balance) for 33 trading days to 10/9/02. From 7/23/02 to 10/9/02 was 55 trading days.
This year the Momentum Low occurred on 5/10, I have a signal for a "Change of Direction Point" (in addition to 6/17) on July 28th. From 5/10/04 to 7/28/04 is 55 trading days.
I have another signal for a "Change of Direction Point" for October 13th, if the Labor Day Holiday was not there, October 13th would be 55 trading days from July 28th, since Labor Day is there, 55 trading days would come up on October 14th. Perhaps my October 13th signal will be off by one day (it has happened before).
Whether the July 28th and October 13/14 signals, for a "Change of Direction Point" turn out to be highs or lows, We Will Know In The Fullness Of Time <vbg>
Jim
