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Strategies & Market Trends : Wall Street Analysts

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To: Wizard who wrote (105)	2/22/2002 2:42:33 PM
From: Patsy Collins	Read Replies (1) of 167

Who is this MS technical guy? The old ugly one or the younger, good looking one? My Fibo's are calculated for the last minor move; which was from 1088.96 to 1734.58. 23.6 retracement was 1582.21 BROKEN ! 38.2 retracement was 1487.95 BROKEN ! 50.0 retracement was 1411.77 BROKEN ! 61.8 retracement was 1335.59 this is probably where they got the figure from. As far as I know, any index breaking the 50.0% level is in Big trouble, breaking 61.8 level is an area of "NO RETURN" The bigger picture, or what I term the "Major trend" NDX went from 2070.61 to 1088.96 23.6 retracement was 1838.94 NOT YET REACHED ! 38.2 retracement was 1695.62 TESTED ! 50.0 retracement was 1579.79 BROKEN ! 61.8 retracement was 1463.95 BROKEN ! 76.4 retracement was 1320.63 we are around here ! Hope this helps. PS I also use Drummond pivots and envelopes.

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