Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Lee Lichterman III who wrote (2463)	3/9/2001 5:50:46 PM
From: donald sew	Read Replies (1) of 52237

Lee, >>>> Don't know exactly where the 78% lelvel is. Hopefully it will be near our 1500 target although I have trend line support around 1700 for this immediate push down. <<<< I dont know what figures he was using, but extrapulating it, the 78% level would be around 1070. Assuming he was using the recent trough of 1838 as the 62% level, then that decline was 2978 points off of the NDX 4816 peak. So 62:78 as 2978:X, where X=3746. 4816-3746=1070. However I dont think that is correct since that would imply that he was basicly using 0 as the starting point. So I went back to a historical log chart stockcharts.com Per that chart it appears that the rally in the NAZ started in 1990 when the low was around 330 on the NAZ. So for this discussion, lets use 330 as the initiating trough and 5132 as the ending peak, so the rally lasted about 4800 NAZ points. So here are the various FIBONACCI RETRACEMENT levels based on these figures for the NAZ: 38% - 3308 50% - 2732 62% - 2157 78% - 1388

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