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Perhaps that is because the markets are retracing something larger than the the move up from 2002.


And on that note (above) it would be very interesting to see some fibs based on longer timeframes.


I dunno I'd have pulled from the swing low where the up move began. From there price has followed the 38 and 50% retracements perfectly, they also line up with previous resistance becoming support.



Fibonacci retracements are just as valuable as they have always been, they make beautiful patterns and can serve as decorative art.t-shirts anyone?


Looks like we're already there and then some. Glad I went 100% money market and bonds a year ago.

These are risky times. It's all about capital preservation.


'unhinged' then yet u indicate they are headed for a fib level? mixed message

of course classic fundamental metrics have predicted this market move perfectly - not.

Jody Wilson

I have yet to see any evidence that Fibonacci grids actually ever work.


it's just stuff on sale zones- when u shop and see 30% off are u more inclined to buy than if full price - they are just zones of interest based on proportions that are repetitive in nature and human life- people that put full faith in them are fools


A lot of the Fibs are actually simple support and resistance lines people can draw with a pencil. No need to get all technical..


October 2007 high

0% $14,240.48
23.6% $11,115.73
38.2% $9,182.62
50% $7,620.24
61.8% $6,057.86
76.4% $4,124.75
100% $1,000.00

1960-1970's resistance
turned support in the 1980's

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