With the recent high volatility days and directionless market, I am confident that another 20% can be squeezed out the market due to the magic of the A-B-C's and approximate 38% Fibonacci retracement. Sure, there will be a few 'head fakes' during the journey but that's just to make things look un-manipulated.
Of course, nothing is free so...All together now...
Oh Great Fibonacci, please accept these 'never been licked' poison dart frogs as my humble offering, and allow the July 2nd 2010 bottom to be the foundation of the great C to D leg that will complete it's destiny by July (or August) of 2011...and while you're at it, allow gold to rise above 1500 dollars an ounce...and provide world peace , and if you have time, make Charlie Sheen the new leader of Libya as soon as possible.
Ok, so that's Dow 14,400, gold 1500 per ounce, world peace, and 'TigerBlood' as new Libyan leader. Ahjmen.
Hey, it sort of worked last time.
Here's the plan this time...
Tuesday, March 8, 2011
Dow 14,400 with a Little Help from the Great Fibonacci
Labels:
Market Wrap-Up