Steve's Place

[DeepBlue1]

Watch for 50% fibonacci bounce/reversal at 1/2 the highest closing price for the DOW.

You can use either the weekly or daily close. I prefer to us the lower of the two in this case.


The highest Daily close was 14,164 and the highest Weekly close was 14,093.(7,082 or 7,047) If those don't hold...????

Interesting that we closed today at EXACTLY 100 point above one of those.???

And remember...it's the close that matters. Not the Intraday. That's important if you use this technical model.

Chart from that time period...


http://finance.yahoo.com/echarts?s=%5EDJI#chart9:symbol=^dji;range=20070926,20071026;indicator=volume;charttype=line;crosshair=cross;ohlcvalues=0;logscale=on;source=undefined