AT 12,550 area (+/- 50 points), the wave from the July 2010 low = .618 of the length of the 3/9/09 to 4/26/10 wave. The .236 and .382 proportions of that wave have marked swing tops since July 2010 low. If the DJIA gets there (which seems likely), the .618 area (around 12,500 to 12,600) should be resistance and perhaps mark a significant swing top.The 12,520 area is also a .786 retracement of the decline from Oct 2007 to Mar 2009.
Kim Rice 2/13/11
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