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Strategies & Market Trends : Humble1 and Swing Trading Friends

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humble1

towerdog

From: crashwatch	1/30/2024 12:15:02 PM
	2 Recommendations Read Replies (1) of 41064

Taking another look at what the market did the first time it hit 700-1400-2100-2800-3500-4200 the past 15 years. All mentions of fib numbers are within a point or two. For example, the S&P didn't hit 3589 in 2020, but 3588.11. 700---2009-S&P went a fib 34 under 700 then made a major low 1400-2012-S&P went a fib 21 over 1400 then corrected 11 percent to 1267 2100-2015-S&P went a fib 34 over 2100 then corrected 15 percent to 1810 2800-2018-S&P went 72 over 2800 then corrected 12 percent to 2532 3500-2020-S&P went a fib 89 over 3500 then corrected 8 percent to 3209 4200-2021-S&P went 38 over 4200 then corrected 4 percent to 4056 The 10 session 200+ point blowoff over 3500 looks a bit similar to the past 10 sessions (including this one) as the market has now penetrated 4900 for the first time. Though I'm not inclined to go short yet.

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