When in a bear market - the first initial retracement happens violently fast - as this one has. But the one common thing they all have is they tend to lose their fuel around the 0.5 Fibonacci retracement .
(Read this article for a reference in the .com boom and the 08 crash)
www.marketwatch.com/story/why-th...
So is this a bear market? It seems to be meeting a lot of resistance lately, but we'll have to see how it does around this range. It had a great come-up today, but can it follow through with more? For me this is kind of the deciding point of what range we're in.
(Read this article for a reference in the .com boom and the 08 crash)
www.marketwatch.com/story/why-th...
So is this a bear market? It seems to be meeting a lot of resistance lately, but we'll have to see how it does around this range. It had a great come-up today, but can it follow through with more? For me this is kind of the deciding point of what range we're in.
Trade active:
Time to put in shorts - the 50% fibonacci retracement was denied again. It's run out of steam boys. SPY PUTS FTW