dow jones tagged posts

DOW Jones Industrial & Fibonacci

To look at important turning points in the market, it often helps to use Fibonacci time ratios. In the chart below I use a very(!) long term price chart...

The support line from Dec 2012 first broke in April, then got retested. It hugged the trend-line for 6 straight trading days and now appears to be leaving it, the so called ‘kiss goodbye’. The first area of support is around the 14500 area, which has a lot of accumulated volume...

The short answer is “No”, not by a long shot. As I have said earlier, I think the market will only bottom in 2021 and in this article I will explain why I believe that.

To look at important turning points in the market, it often helps to use fibonacci time ratios...