interesting possible confirmation of today's high: IF the high earlier today marks the end of the ABC correction of the move down 1127 SPX, then that correction took exactly 38 percent of the time that the move down took.
Top today hit both time and price. 50 percent price retracement, 38 percent time.
Wave 2 usually takes less time than wave 1, but I don't know how common the Fib times are. I would guess 50 percent time would be common, along with 38 and 62.
interesting possible confirmation of today's high: IF the high earlier today marks the end of the ABC correction of the move down 1127 SPX, then that correction took exactly 38 percent of the time that the move down took.
ReplyDeleteSo Fib worked on time rather than on price.
ReplyDeleteFutures showed closer to 50% retracement than cash. ND was almost spot on. SP close.
ReplyDeleteyeah, I've started looking at time now too.
ReplyDeleteTop today hit both time and price. 50 percent price retracement, 38 percent time.
Wave 2 usually takes less time than wave 1, but I don't know how common the Fib times are. I would guess 50 percent time would be common, along with 38 and 62.