CosmicDust

SPY - two interesting blue dots - 10/12/2014

AMEX:SPY   SPDR S&P 500
spy
Just some observations, nothing else.

Blue dot 1 - joint between trend line from 2009 and 0.236 Fib level.
Blue dot 2 - joint between lower bound of price channel from 1997 and 0.618 Fib level.

Red dots are historic price reference that sit on different fib levels. Maybe market is not that random after all. Who could have thought green dots from 1997 and 1998 had determined 2007 market top and possibly 2014 market top.
Add that previous two tops are on 0.382. What are the odds :)
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Good point. Market has to tell us.
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Now that is good thinking! I like it, although it still saddens me that the bull is over. But im surely keeping this as a reference and probably will try to plot other possible outcomes and see where they lead me. Top notch!
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Thanks!
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