Years 1942, 1950, 1974 & 1982 these fib ratios showed price was at the end of a correction with the 38.2 being the deeper of the two corrections and the 61.8 being a -24% correction. Year 2007 the 0.382 was at the start of a correction just like the 61.8 is at the start of the current correction. A -24% correction would put the DOW at the monthly close high of year 2007 in the 13800´s
The correction could be deeper, i do not know. However, once the correction is over. If history repeats. Looking left of the chart. Price would have an upside bias.
116 month low 1942
115 month low 1984
Current price where I believe price could trade to 25695 if price rallies into the EOY. After that target is hit, if price follows the previous BM, could see a double digit correction into EOY 2018 All bs of course, where I am probably 100% wrong. Picking tops and bottoms is impossible.
Still looking at fractals after the EOY 2018 or 2019 low, if price follows the past two BM. Thinking we could witness a 100% rally.
1942 low rally
1984 low rally
Maybe the top is in? I do not know, but I believe the spx will trade 2500 before entering a correction.
Don´t know if you follow T Theory, a simulated euro also hints the euro could experience another 14 years in an over all down trend, where the current rally is a bear market rally.
or (low, high, low) next, 1.272 was a high, 1.618 was a low, 1.786 was a high or (high, low, high) currently time is entering the 2.272 time period and am wonder if the time fib alternation will continue. Where the 2.272 would be a low (can be a higher low) 2.618 would be a high and the 2.782 would be a low or a (low, high, low). I do not know if this pattern will continue. However if price is rallying or pulling back at the 2.272 time fib on or around feb 18th I would look for a reaction with price where there would be high or low made, This all bs at the moment. notes on chart