From the peak of the Bull market 2002 - 2007 I added 1.61%, this level was important in February 2018 when price was rejected for a time.
From the origin of wave 1 in 2009 to the top of wave 3 in 2015 I then added 61% to the top of wave 3 as shown in my last post titled :
S&P 500 weekly with some interesting Fibonacci levels.
I then used a fibonacci trend...
I simply measured from the start of wave 1 to the top of wave 3 and then added a fibonacci 38% and 61%, the results are somewhat interesting.
This current Fibonacci level comes in at around 3043 so very close to where we are right now.
This chart is showing the Nasdaq 100 index with simple trend lines.
Interestingly there is the long term trend line from 2009 and more recently since 2016 what I would call an acceleration line which is a steeper angled trend line supporting price.
I have added a possible resistance line also for reference.
Also on this chart I have added the Bear market trend...
This is the Ftse 100 index with a simple trend line on the monthly chart.
I have placed an arrow to show where the market actually made a monthly candle close below the trend line but has since gone on to recapture it.
This is my first published idea and it's a simple one.
The Dow Jones monthly with added trend lines, I also joined the last three peaks with a trend line to keep an eye on.
I am watching for the monthly close of each candle with this analysis rather than intra month movements.
I hope this is helpful in some way :-)