Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Fibonacci Projections

By

PrintPRINT

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.

You may recall that yesterday we wrote that I have been "fiddling" with time-based (as opposed to price-based) Fibonacci projections. The original impetus for this fiddling was basically what is happening now in the NDX.

Over the last few sessions I have been saying "one more new swing low" for a potential bottom in the NDX. Alas, we get a new swing low (however slight) and the indicators continue to suggest another new low (again however slight) is needed. In other words: though we may be very close to the price that could prove to be a turning point, the action of the NDX suggests that there is a "time" element that also needs to be satisfied.

I am openly speculating here, but I wanted to pass it along as this is exactly the type of slow grind lower that makes me believe that the market has Fibonacci time relationships that it "needs" to fulfill as well as the more obvious Fibonacci price relationships.

No positions in stocks mentioned.

The informatio= n on this website solely reflects the analysis of or opinion about the perf= ormance of securities and financial markets by the writers whose articles a= ppear on the site. The views expressed by the writers are not necessarily t= he views of Minyanville Media, Inc. or members of its management. Nothing c= ontained on the website is intended to constitute a recommendation or advic= e addressed to an individual investor or category of investors to purchase,= sell or hold any security, or to take any action with respect to the prosp= ective movement of the securities markets or to solicit the purchase or sal= e of any security. Any investment decisions must be made by the reader eith= er individually or in consultation with his or her investment professional.= Minyanville writers and staff may trade or hold positions in securities th= at are discussed in articles appearing on the website. Writers of articles = are required to disclose whether they have a position in any stock or fund = discussed in an article, but are not permitted to disclose the size or dire= ction of the position. Nothing on this website is intended to solicit busin= ess of any kind for a writer's business or fund. Minyanville management= and staff as well as contributing writers will not respond to emails or ot= her communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.<= /p>

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE