Short Term Trading Member Forum

[techcharter]

Very Close To The Top.

The German DAX is the best candidate for examination as its bear rally is very close (~50 pts) to a Fibonacci 38.2% retracement with the first Bear leg that began in Y2K. This latest wave from the April '05 Lows looks like a nearly motive wave.

http://stockcharts.com/def/servlet/SC.web?c=$DAX,uu[w,a]dacayyay[db][pb50!d20,2!f][vc60][iLp14,3,3!L....

The DJIA has a 78.6% Fib retracement at 10974, and just went over that mark in March '05 at 10984. That does not leave much upside potential if the DJIA is in Bear Wave B5 triangle or a BULL Wave 5 of 5 ending diagonal from the March '03 Lows.

The SPX has a 61.8% Fib retracement at 1237, and nearly missed it in March '05 at 1229. That does not leave much upside potential if the SPX is in Bear Wave B5 triangle or a BULL Wave 5 of 5 ending diagonal from the October '02 Lows.

The NAZ has a 23.6% Fib retracement at 2212, and nearly missed it in Jan '05 at 2191. That does not leave much upside potential since the NAZ is in Bear Wave B5 triangle from the March '03 Lows or it has already topped out.

I realize I'm using different start dates for the 2.5 year rally. This gives the best fibonacci relations, and shows how ALL markets are set to turn lower in the near future. This next turn is so major that all stocks will be affected.