I wanted to share a couple of major U.S. equity index charts with Fibonaccis, since I think they are kind of interesting. Here is the Dow Jones Composite, with anchor points at the bottom of the financial crisis and at the December 2014 peak. Take note of the 161.8% projection (dashed line) and its relationship to recent price activity.
Liquidity moves markets!Follow the money. Find the profits!
I’ve done the same thing with S&P 100, except this time the anchor points are the peak of the financial bubble and the bottom of the financial crisis. In this case, there are actual two projections drawn: the higher one, 261.8%, was extremely close to the peak last week.
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.