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Strategies & Market Trends : Technical Analysis With Charts

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To: MACD X who wrote (6862)	4/23/2009 12:24:07 AM
From: Gary H	of 6865

Well I should say that it is a nice piece of work even though it is somewhat unconventional to my understanding of Fibinacci ratio use. Your placement of the 50% line is right on when one measures from the intermediate high of 2300+, down to the first low of just under 1500. Note this is a straight downturn with no corrections. When this is done, your 50% point is 0.382 below 2300 and your 0.382 point is equal to 0.618 below 2300. Not too hip on the fundamental of the market but with the view thing will go to hell in a hand basket, your zero line will be something to watch for, maybe not as a bottom, but an intermediate point on the way down.

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