JPM.........cont'd
<<Nothingsays JPM has stopped going up/topped,>>......Agree, of course, Freep..and did not mean to imply that by taking the current level as the base for a retrace calculation. (Must confess, however, that I have been thinking JPM should stop going up around here.....It's facing heavy R straight ahead.....with no help from its falling 200dMA trend...)
<<,,,,,Shack had pointed out to me, JPM has been known to, well, not retrace...>>.....???....I may be missing the point here??
Would be interested in hearing more from you, Shack...if you're reading this...on the basis for this ..well...rather novel idea.....vbg.....
Looking at the long, major trends since Oct 2002 ....the advance into early 2004 amounted to 28.58 points....At the recent Oct low, that advance had been retraced to the extent of 10.92 points...........
Lo and behold......that makes it a perfect Fibonnaci 38.2 % retracement !! |
