Newsflash: the market has no respect for Fibonacci, Gann, Elliot, moon phase, river depth, Homer Simpson or Fred Flintstone levels. Those are simply man-made fabrications people try to impose on the markets. Occasionally they're reached via self-fulfilling prophecies, but they have no predictive value or edge.
%% Sure+ i agree ANY term deposit or any kind bank interest beats panic selling mutual funds\stocks. Plenty of risk though\ with inflating average 10%+\good imagination to call bank rates or bonds paying a hi rate.....................................................
%% I'm a chart guy\ bear market\ but oVer due for a good bear rally\ maybe thru early AUGust/ anyway.........................................................
Years upon years of watching charts print says otherwise (not the wisecrack mentions) - but to each their own. More than one way to skin a cat. Just because you think certain things do not work or have not been able to make them work for you does not in fact mean they are fodder.