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Donald Thompson wrote:
>
> Rt's,
>
> The
>
> SPX has stopped dead in its tracks at 973.
>
> The .618 retracement from 986.25 to the 951.89 is 973.12 pretty
> close.. if price exceeds the 973.. all bets are off for the plunge IMHO
> based on this being a c4
>
> It... it.... just happened so fast...
>
Don,
Fibonacci worked because all the traders know Fibonacci and trade off
those numbers. So, they all waited to buy or sell at the same time at
those levels. Now if that is true, I wonder who took the other side of
their trades? Perhaps if they went long in one account and short in
another account they just traded with themselves?
Naively,
Norman
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