Dr. Fibonacci Says….. 16846 is the 38% retracement of the 6 week, 1,135 point rally which started on Aug 8th 6-month low down at 16145. Half way back, is 16,712. Thee levels are important, because every trader out there looks at them, even if they lie publicly and say they don’t. Remember, 172 points is a 1% move. If you are going to light your hair on fire and run down the street every time the Dow moves 200 points, I think you’ll be in a padded cell by Christmas , along with all of the talking heads on the financial shows. Their behavior is bordering on yelling fire in a crowded theater, in my opinion. Stay calm. Use your stops. Move ment is opportunity. Give me a call and come on board as a client if you like what you have been reading.
