2 replies to this topic

[slatedrake]

Just some observations comparing price to fib levels.

Today we closed back above the 78.6% level of the 03.06.1978 to 03.24.2000 run.





As well as closing above the 61.8% retracement level of the 03.24.2000 to 07.24.2002 bear market. Note the lower of the two trend lines from the 2000 top. The upper trend line connects the 03.24.2000 and 07.17.2007 tops. The lower trend line connects the 03.24.2000 and 09.01.2000 double tops and extends out from those two points - we closed above that trend line as well today.





5 year view.




2 year view.




1 year view.




The two bottom trend lines shown on the longer time-frame charts connect both the 03.06.1978 and 08.12.1982 bottoms with the 03.12.2003 bottom.

[kaiser soze]

Thanks for the charts. Nice work.

[slatedrake]

Thanks.

120 minute chart showing the bounce of that same trend line that connects the 03.24.2000 and 09.01.2000 double tops and extending down from those two points.