BS"D

Actually, my calc is even a drop lower than yours. I get a bit higher than 1115.
The 50% line on my chart appears higher because I lost the pixel war and couldn't get it to draw any lower (next pixel was just under 1100).
My point, however, is still well taken: Even though on the current contract tape current trading appears to be at new highs, a long term view of the market reveals that actually trading is around the 50% Fib Retracement level.

Be well,
Asher
=] ;-)>