simple guy Posted March 31, 2003 Report Posted March 31, 2003 Just as a brief follow on topic to my Monday predictions... .618 is a magical fibonacci sequencing number. This is found in all forms of nature, plants, tree branches, cells, you name it, even the Pyramids of Egypt. Lets just give a few examples. The recent 8 day rally to March 21 was almost exactly at .618 retrace off the Dec 2 highs and March 12 lows. The recent pullback from Dec 2 highs of 28.55 on the Q's and 23.32 on the Q's of Feb 13 (low) was an EXACT .618 retrace of the Oct 9th low of 20.06 and the Dec 2 high of 28.55. I mean, exact.... The coming C wave up should likely be a .618% move of the A wave move up into March 21 time frame, which was a fibonacci 8 days in duration. This leg of B down should probably end this morning, a 5 day fibonacci time wise move down. So, .618% of the 23.52 to 27.38 move into March 21 is $2.38 on the Q's If the low is 25.44 as I've supposed... then we go to 27.82, amazingly enough, that is the target I gave out on my thread for a possible C wave top. Its possible the Q's could go down to a .618 fibonacci retrace B wave bottom of 25.04 today, a prior area of resistance in the first quarter.... 25.04 plus 2.38 is 27.42, just above the A wave high of March 21.... Watch and learn in amazement... I always do...
simple guy Posted March 31, 2003 Author Report Posted March 31, 2003 A few more .618 numbers 1509 NAS 28.76 qqq 1509 IS A .618 OF THE A WAVE FROM OCT 9 TO DEC 2 MOVE IN AMPLITUDE 28.76, SAME THING... 28.76 would also be a 38% retrace of the entire Wave 3 move down to Oct 9 in the Q's... Wave 4's are commonly lower retraces than wave 2,....236 or 382 After touching those numbers, a reversal down into wave 5 is likely... (unless the C wave decides to go to 50 or 61% retrace levels)
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