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Advanced Technical Analysis - S&P


Thx Scott!


Note: the following analysis is formulated as an assimilation of Fibonacci, DeMark, Elliott Wave and other technical indicators. It is offered as education and not intended as advice in any way.

In this AM's buzz I noted "how overlapped price peaks and troughs are from the lows registered on the 28th." Below is the chart I was referring to when I made that observation. The reason I am illustrating it in a chart is principally because of the interesting phi relationship that exists between (1) the bounce from Feb 22nd to Feb 25th and (2) the bounce from Feb 28th to yesterday's March 2nd peaks.

The second bounce is almost an exact 0.618 times the distance of the first bounce (0.623). There are a number of implications that result from this phi relationship (and from the channel lines and the pattern off the Feb 22nd lows), most of them ultimately bearish. But, like my proselytizing about efficient market hypothesis yesterday, I think seeing these types of relationships in real time will help readers come to appreciate that markets may not be what they seem.

Not intended as advice

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