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This is a fairly minor improvement in SlopeCharts, but one which I’ve been wanting a while: the ability to alter the weight of Fibonacci Retracements.
Beforehand, this drawn object had a fixed, thin line weight, which made it look something like this:
There’s just no two ways about it. Absolutely extraordinary.
In my epiphanic post from March 21st, I stated, in part, “Should we rally to 270.14, either now, or many weeks from now, that’s going to be a lead wall. It also, I believe, will mark the start of an even larger selloff.“
Well, we did indeed rally, thanks to the impotent and treasonous Jerome Powell and even more evil Steve Mnuchin throwing trillions of dollars at our dying nation, but we didn’t even reach my target. Instead, it nailed – – and I mean NAILED – – the Fibonacci level. Just jaw-dropping. I’ve marked with an arrow my “epiphanic” target.
(more…)Yogi Berra was quoted as saying that “it’s tough making predictions, especially about the future.”
However, there are times when one is able to at least obtain a probabilistic reading about the future, based upon an understanding of mass human sentiment and human psychology.
In fact, back in the 1940’s, an accountant named Ralph Nelson Elliott identified behavioral patterns within the stock market which represented the larger collective behavioral patterns of society en masse. And, in 1940, Elliott publicly tied the movements of human behavior to the natural law represented through Fibonacci mathematics.
(more…)China’s Shanghai Index (SSEC) heats up in anticipation of the signing of the new U.S./China Phase I Trade Deal, expected on January 15, 2020.
The monthly chart of the SSEC shows price has just broken above a downtrend line that began at the highs of June 2015.
(more…)Try as it might to escape, Bitcoin is clinging steadfastly to its Fibonacci retracement. It’s actually quite remarkable.
