Hi Fib,
Read your chat yesterday and you had mentionned you believed we would retrace some of the loss from yesterday (38%, 50%, etc) - for SPX, was that from the highs of roughly 1461 to yesterday's low of 1389?
Thanks
Retracement - Question For FIB 1618
Started by
bliss just missed
, Feb 28 2007 09:27 AM
1 reply to this topic
#2
fib_1618
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Posted 28 February 2007 - 02:07 PM
Hi BlissRead your chat yesterday and you had mentioned you believed we would retrace some of the loss from yesterday (38%, 50%, etc) - for SPX, was that from the highs of roughly 1461 to yesterday's low of 1389?
Ideally, yes, it would be based on the entire 5% decline from the 2/20 top.
For the Dow:
.382 would be 12,352
.050 would be 12,434
.618 would be 12,516
For the SPX:
.382 would be 1417
.050 would be 1425
.618 would be 1433
So far today, the .382 targets have basically been met and price has repelled from these same highs.
Steady as she goes.
Fib
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