DOW 5000, Fibonacci analysis

On the way down, Fibonacci reads 13 to 8 to 5. Sounds familiar?

Our innate sense of numbers and proportion would put the next floor of resistance at 5000. Let's hope 8000 holds. Don't bet on it at this point unless you are Warren.

Remember technical analysis may be just a view of the mind.

Comments

Anonymous said…
As long as inflation remains low, I'm happy.
October 24, 2008 at 4:03:00 PM PDT
adt43wt342 said…
Glad to hear it.

Cash isn't trash.
October 25, 2008 at 3:30:00 AM PDT
pcleddy said…
"In the chart below I have graphed the crashes of 1929, 1973, 1987, and 2001 alongside the current fall, with the peak points aligned near the left. Each crash is scaled on the y-axis to show the percent of the peak Dow Jones price."

http://seattlebubble.com/blog/2008/10/24/comparing-past-market-crashes/

Blantant errors?
October 26, 2008 at 7:25:00 PM PDT
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