Have shared twice this week that the “Power of the Pattern” was suggesting a U.S. Dollar rally was close at hand…. “Dollar Support” (see post here) and “Dollar breakout” (see post here) Below is an update, reflecting how key Fibonacci levels are a key to the Dollars movements! CLICK ON CHART TO ENLARGE The above chart reflects [...]
CLICK ON CHART TO ENLARGE 500 index hit a strong Fibonacci expansion level and reversed course very quickly. Kissing the underside of old support, which becomes new resistance can be a great entry point as the potential for a ”kiss good-bye” becomes quite high! When the NDX created this situation we suggested it was a low [...]
CLICK ON CHART TO ENLARGE Often times a technical formation takes shape, suggesting that a trend reversal could be close at hand and all that is needed to make the TA forecast come true is a news event. Is the news about Steve Jobs “THE EVENT” that will assist fibonacci in puttting a stop to the strong rally [...]
Are the markets soft his morning due to the news from Korea or does it have more to do with the “key fibonacci 61.8% retracement” levels that have taken 6 months to form? CLICK ON CHART TO ENLARGE Do we really know why the markets are soft or does it really matter??? I remain of [...]
Fibonacci continues to be a “strong force and has a key relationship” to the 500 index. Below is a big-picture and a close up of the current action over the past couple of weeks. CLICK ON CHART TO ENLARGE Suggested earlier to pick up SH with a stop 1% above the resistance at (1). [...]
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