.38 fibonacci level reached on the S&P

Discussion in 'Technical Analysis' started by ang_99, Aug 15, 2009.

  1. Peak Oct '07 to March '09 lows on the s&p

    Do we retrace to the .5 level without a pullback?

    I'm thinking not because the crash last year was so violent it would almost be asking to much (not very technical but it sounds good)
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  2. Woo Hoo. Now we are set. Not...

    Seriously, why does 1 occurrence have any relevance. Are the 500 CEOs' under the S&P looking at the .38 level, so they can in concert move their company's stocks so that the S&P does this???

  3. ceo's don't move stocks, traders and investors do.



  4. A pretty interesting confluence of levels- occurs around the .50 ret level with the completion of a AB=CD pattern that we are currently in.
  5. fib levels r essentially worthless
  6. WTF? 3 demerits.
  7. It is only as worthless as the traders trading them.

    That is, if traders trading Fibs are worthy and can move the market, then Fibs will work.
  8. TA is non sense.

    this thread is as credible as black magic.
  9. Excerpt from Paul Tudor Jones interview, 2000:

    (Short Phrase Associations)

    Q: Technical analysis

    Paul Tudor Jones: Made well over half the money that I've made in my lifetime.

    Q: Fundamental Analysis

    Paul Tudor Jones: Made the rest.
  10. yes, but if you understood the question, you would not have given a response that has nothing to do with it or the answer.
    #10     Aug 17, 2009