Monday, October 18, 2010

Fibo's don't Fib

One of the few tech methods that stands strong is one of the oldest, Fibonacci.

The trick is where do you start and stop the 0% and 100% lines.   The answer is not always obvious, and often running form top to bottom of a 5 wave or 3 wave pattern works well.   On my ES chart 1040 is roughly the bottom.  See attached.

Check the "total market" DWC, we are also at an important Fibo.   Investor complacency is high.

And Finally, right before the elections -- "The Housing Boom is Back", see newspaper headlines.  I think I am going to buy some lemmings and hang out with them, at least they deserve some respect, :-)

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Insightful and Useful Comment!