Category Archives: Fibonacci

The Bitcoin Chart And Adjusted Fibonacci Retracement Levels

Bitcoin has been making a steady series of higher highs and higher lows since it established its March low. In the process, it has also completed the right side of an inverse head and shoulders pattern. This pattern projects a considerably higher price target. But there is another interesting technical dynamic on the weekly chart… Read More »

Consolidation Is King – The Market Needs A Foundation To Support Higher Prices

The S&P 500 Index bounced up 20% from its Monday low to its Thursday closing high. It seemed primed for the bounce and in Tuesday’s article where we pointed out a bullish morningstar reversal pattern. But we also mentioned that a V-shaped recovery was not what many technicians wanted to see. Volatility is extreme and… Read More »

The S&P 500 – A Break Below Current Support Projects Initial 7% and 10% Downside Targets

Monday’s market decline was brutal. The Dow Jones Industrial Average was down over 1,000 points. The S&P 500 Index opened below its 50 day moving average and below a long term uptrend line on the daily chart. The S&P did attempt a bit of a recovery in the Monday session around 3:00 o’clock in the… Read More »