Things that make you go humm

Here are some tidbits I find amusing.
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During this last wave, AGG has closed at 105.02 twice, and 105.02 just so happens to be a 38.2% Fibonacci retracement.


For the S&P 500 check out this cool weekly chart. Those three Fibonacci waves share some similar traits.

Wave 1: 88.18 points
Wave 2: 81.41 points
Wave 3: 80.31 points

But wait, it gets weirder...
Each wave has 2 outer red candles and 2 inner green candles.

Now look at the last two orphaned candlesticks, do you see a trend??? Well if we count last weeks candlestick as the bottom and add 80 points, we get 1163

Seriously though, if you buy based on this chart you may want to have your head examined....Jason
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[coolhand]

There are divergences everywhere in the charts. That's why I was a little more cautious about front-running a SSBS. We have to keep in mind though that this is December and Sentiment has put a floor under the market for quite some time. I think a blow-off top may very well be in the cards before any truly corrective market action takes place. We seem to have the set-up for that.

 

[tsptalk]

hmmmm.