It takes the value of the SP500 at the March 2009 low, which was $666, and multiplies that number by PHI to the power of 5 as (666 * .618034^5). The result in trading days is shown on the red lines. This is an indicator for a change in trend.
The next red line is November 19, 2009, and is expected to be a market turn.
Please note this calculation and many others were developed by Stan Harley. A very interesting fellow who brings a scientific approach to the markets. He can be found at http://www.harleymarketletter.com/
In addition Nov 19 has the moon in conjunction to Pluto, which is of course squaring Saturn, both being in Cardinal signs. Watch for a market move 1:30pm to 2:07pm that day.
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