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Rafikichi
Feb 27, 2020 5:06 AM

DOW Crash with Fibs. Short

Dow Jones Industrial Average IndexTVC

Description

Drawing a Fibonacci retrace from the low of Black Monday 1987 to the highs of Summer '07, the crash retraced down to the .618 fib or a 54% loss.

Drawing a Fib from the the Feb 2009 low to the Feb 2020 high, the .618 fib line would be around $15,000 and the last '07 high of $14000 would be support.

This would correlate with a similar crash of 50+% if the market fails to rebound back above the 50 Week Moving Average line (in red) and breaks the 200 Week Moving Average (in blue).

Between $14,000-15000 DOW.
Comments
jaydubau
Interest rates were 10% in 1987. They are 1.7% in 2020. The environment is different. The stock market leans on a dovish Fed to prop it up now. I think this will ultimately keep dips short lived and markets inflated
UnknownUnicorn1495183
Terrifying, hoping this doesn't occur.
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