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To: bumboo who wrote (78280)	3/12/2001 10:46:52 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

i was referring to the NDX, and didn't do the calculation myself...just saw somewhere that 1865 is the 61,8% retracement level. per experience, when such a retracement level fails to hold, the next fibo level becomes the focus. there's also the matter of pattern completion: every burst bubble of the past has seen prices eventually retreat to the bottom of the previous MAJOR correction low, which in this case would be the '98 low. the Nikkei e.g. returned to it's '87 low before bottoming in '90. and i'm not even talking about a final bottom, only a solid intermediate term bottom.