The above chart looks like a silly grid. I call it the Qbert chart. All of the trendlines are parallels. What I found most interesting is if you intersect the 45 degree lines with a negative 45 degree line you'll see how calculus,vectors and planes dominate the market. If you would like to take it one step further then bisect those lines with 22.5* lines and you'll see these pretty much are the ebb and flow of the market. From one plane to another. Maybe it's just me imagining the market is nothing more than stupid math performed by stupid computers? Hudson River Trading would agree with me. Btw, I loathe math. I suppose one could say this is sort of a multi-dimensional point and figure chart.
I drew way too many circles but some go from the top to the bottom, from the 50% retrace to the top and from the 50 to the bottom and for some strange reason I felt like drawing one from the 50 to the recent swing low (what I think is a "B" wave and we are in a 5-wave C that will mark the top in this correction).
The bottom layer is a couple of Fib Fans and a lot of horizontal lines. I didn't mark each location but those horizontals marked were where two of the Circles intersected. Wasn't surprised at all to see these land exactly on known support/resistance in the SLP500.
