Sunday, May 8, 2011

78 fibo on SPX and Moving the Market

This looks pretty simple actually.

Lookat the blue line, a possible backtest coming up.

Although I am long right now, don't blong long time.


  1. Excellent observations Steveo. I have been watching the 78 Fibo level for the last month expecting that it will act as major resistance.

    Also watching silver as I wrote in this post..expecting it may break substantially higher once the deleveraging process is completed down to perhaps the $30 level.

    Although a liquidation panic could blast a hole in the silver theory.

  2. Thanks for stopping in, I have been ignoring silver except as it plays into my Fear Factor calculation


Insightful and Useful Comment!