Tentatively called the bottom at SP500 1700

[darwin666]

The S&P500 level depends on what alternatives are available. When CDs paid 0.4% and 10 year treasury was 0.6%, there's not really an alternative investment and the S&P goes to 4800. When 10 year is at 3%, it's a bit lower. When it's at 7-10%, then it a lot lower.

Yup. This fucking became the only show I. Town. It sucked in everyone who sat on the sidelines. Feel sorry for folks who got in this year and are seeing their accounts plummet . The zero interest rates at banks for so long just becomes unbearable where u go out and talk to everyone who is making money. I have an super intelligent friend at work. He arrogantly said qqq (at 408) will give us 20% return for the rest of our lives. He just believed it. Only goes up. Tech will save us. The hysteria everyone got caught up with.

 

[murray t turtle]

If we go by Oct. 19, 1987 the Black Monday, SP500 dies at 224.84. Here is a handy fibo retracement level calculator: https://www.omnicalculator.com/finance/fibonacci-retracement All the levels are there.

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Good read\
but dont need to know the low for a 50 % retracement, as their well explained example mispoke, but mostly right example.
Sounds like a SPY target.
Say FB hi hit almost $400[$384+ ]; 50% pullback = $200 area. 89%= $38 area. i used rounded umbers buts that ok Fib #s dont predict exactly.....................................................
QQQ hit almost 89% pulback in bear of 2000-2002\ so FB could easy pullback more than 89%or $38 area. NOT a prediction. Fibos everywhere,