LuisVelazco
Short

NASX may continue it's drop

INDEX:NASX   Nasdaq Composite
186 4 0
The NASX             bounced off of FIB Retracement 1.618. If bounce doesn't hold , the next most likely stop will be $4040 for another attempt at a bounce. If I understand this pattern correctly the Butterfly pattern will still be valid as far down as FIB 2.618. If I'm wrong feel free to comment.

I like using multiple Fibonacci Retracements because at different lows because where the Ratios line up usually forms a stronger resistance or support area .

Comments are always welcome.
You may not know it but you stumbled across something .....in regards to fib replacements when they lined up.........do the same with Gann angles off significant lows.....
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LuisVelazco mike.lawler.969
Thanks I'll look into it!
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nice, like this one ... i think in the end somewhere 4000 is where we'll look back and say that was our footing
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LuisVelazco IanLipner08
Hey Ian!
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