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I have noticed that the confluence of a .382 from a large swing and a .618 from a smaller swing (the chart I posted on page 1 of this thread) can give you some powerful moves....but I really don't look at fibs very much anymore.

Yes...the up move could either be a 5 wave impulse itself, or a three wave (ABC) correction.

:D

Randy Nutts, you are completely nuts. Just don't start preaching religion to us too you liberal freak....now go get me a hamburger.

everyone chill for a bit...jeez...is there one thread on any of these forums that doesn't eventually turn negative???? :(

No problem, and I wasn't trying to start a debate, so I hope you don't think I was trying to attack you or something.

Also, if you were to do a EW analysis, the down move (bear market) unfolds in a impulse 5 wave, and the current up move might be the start of the bear market correction that unfolds in a ABC pattern. If we were at a top last week, you would have the expectation that price would come down to a...

You wrote in the your original post: "Has anyone noticed the Fibonacci retracement levels are perfectly positioned now for a correction?" You have drawn the potential support level fibs IF we are at a top right now, and IF the market corrects. In your original post, I think it might...

Is something like this what you are refrring to?

Post some charts so everyone will know what fib retracements you are referring to. Which ones, and from which levels? Internal retracements like .618 and .786, or external like 1.272 and 1.618???? :confused:

valley...you could be right, but if are a swing trader and you did go short off the target line as I show in the first post, I think you would have been pretty safe after the sell off this afternoon with your stop at at least a break even.

updated $VXN chart.

I have it too...I also have a 20 min QQQ up and running, and the 2nd bar of the day is also bad.

NQs look crazy

Just got the DSL to go along with the Cable. It took a while longer with the holidays, etc. In any event, I am very satisfied, and the switch seems to be flawless. Highly recommended.

Daily chart:

curious..who is the person you speak of?

Many of the computers bought "off the shelf" don't have any room for additions or upgrades in their chasis or box because the manufacturer of the machine wants their customers to buy new computers in order to upgrade. Man, how was that for a run on sentence? My English teacher would be proud...

similar chart here to Spec's, but this one shows just the last portion of the down swing:

Awesome chart spec..thanks for sharing...very close to the type of analysis I do.