T/A ETF AND INDEX

[capt_jmj]

JLS: Regarding Fibonacci ratios, it matters not a whit whether the market all by itself behaves according to the predefined limits, but to the extent that market trading programs or individual traders believe in them and exercise buy and sell decisions based on them, they tend to become self-fulfilling, and while it is not a hard, provable scientific theory, the empirical evidence is that it happens fairly regularly. In fact, the same could be said of EWP. If enough traders believe that a turning point has been reached and they switch positions accordingly, it will make the prediciton a reality. As Pogo once said, "We have met the enemy, and he is us", i.e. all of us collectively *are* the market.