Tentatively called the bottom at SP500 1700

BTW 50% is not a fib number but it is the sweet spot in a retracement zone.

 

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Maybe more useful than 55 or 89.

 

I don't know where you got those fibo levels. Calculating from the lowest point of S&P which was on March 23, 2020, the lowest that S&P ever reached during the height of the pandemic until the highest that S&P ever reached during Dec. of 2021, the 50% is at 3515 and the lowest point which is 100% reversal is at 2237.4. Where is this 1700 coming from?

The lowest point during the pandemic is already the lowest since Nov. 2016, shortly after the beloved Trump was elected. So why would we reverse all the way to the 1700 which was back in 2015 is a little puzzling to me.

 

People use these numbers as Fibo levels?? Seriously?? They know how the fibo levels are derived from right? They are not random numbers that people just pull out of a hat.

 

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AS noted ,89 may not be among the most useful\
.But QQQ did come fairly close to 89% drawdown in bear of 2000-01-02

 

He said he warned you in November

How many war crimes is he guilty of ?

 

Humor, you know...that which makes one laugh.

 

From Wiki, "Fibonacci levels are derived from the plant bagus holderus , found in the jungles of Mozambique"