Nasdaq 100 just hit a notable resistance, before 16k cluster

Oct 29, 2021

Quick post to note a significant resistance round 15.8k.
Above is a cluster of various fibs around the 16k levels.
If we get a pullback here, I will try to plot supports next.

There are a LOT of lines on this chart, I know right?
They come from various waves on various time frames.
What matters are areas of Confluences of 2 or more fibs.

At the End of Week, we have hit a confluence of 3 fibs.
It is very possible that we see a pullback early next week.
Perhaps there will be some "news" over the weekend?

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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess

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Nov 1, 2021

Note

Resistance Noticed

Original timeframe, progress since posting (yellow circle)

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Zoom IN (5 min) on that zone in circle Premarket we bounced on TOP of the zone,
but once US opened we dropped below and retested.
Now looks like more downward pressure under way.

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Zoom In MORE (1 min) and adding a fib of the wave down today: Very clean fibnastics seen here.
5.236 bounce (common wave ender).
1.618 rejection (a strong ratio).
Then 2.618 (very strong) push.

Now of interest: double fib at 15,794.

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