S&P 500 fibonacci

[aboooth]

S&P has peaked at 38.2% rise from October 10 2002 low, which is 50% of ATH. The retracement is therefore also 38.2 of the total leg down from March 2000.

There is no way anyone should be long of this market till the high of 7/11 is taken out - by a chunk!

 

[Trader333]

What about intra-day traders ?


Paul

 

[mully]

I thought 1068 = the 38% Fib of the March 2000 -October 2001 'bear market'. I know it is probably splitting hairs, but the peak in the SP500 so far is 1062.

 

[stevet]

i hope someone tells the market to ignore trends, gann, sma, elliot wave, and all those other great stuff and just concentrate on that prior high and a bit of fibs

unfortuneatly, i will have to take my chances with trading intra-day ranges as i have to earn my crust each day

 

[aboooth]

re mully, i have the intra day low as 768.63
plus 38.2 =1062.25, intraday high = 1062.39

this is on the cash index but it's not a bad match