Why do the Fib analysis from the Oct 2014 low, instead of from the more recent Feb 2015 low? Do you have a pre-conceived idea that you need so many trading days in a cycle all the way back to Oct? What if your cycle assumption is wrong? The Fib analysis from the Feb 2015 low gives a 62% retracement at 2033 rather than your 38% retracement at 2005? I guess we’ll see, should be interesting.
The Oct. low was the last larger degree intermediate cycle bottom. So if I’m talking about an intermediate degree correction rather than a smaller degree daily cycle correction I measure from the Oct. low instead of the Feb. low.
Have the miners bottomed?
There should be a bounce soon but the sector has to go through a blood bath phase before the final intermediate cycle correction is complete. That probably means lower lows.
SPX 500 coming
The dollar is still not tired. Everything depends on the dollar for now. I guess if the dollar keeps rising like this, we could see SPX 500. 🙂
After seeing todays action (Fri AM, SPX -24), I am beginning to wonder about a possible megaphone on SPX from Dec highs, Jan lows that bottoms around SPX 1950 next week, This fits Armstrongs belief that Euro panic low (about 100) may happen next week. Possible after FOMC supports rate hike. Then we could get you blowoff in IBB for a top.
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