SPX Daily, 1999 - Present
I suppose somebody was all over this and I missed it. Better late than never, right? I remember feeling slightly annoyed that I couldn't make sense of the March low a year ago. It got close to a 10 year old Fib projection but didn't quite connect. Not only that but the dotted blue trendline is one many of us likely would have had drawn at the time, and it appeared to actually reinforce the notion that the nearest Fib was a likely bottom. I wrote it off at the time as 'close enough'.
I was cleaning and updating this chart and look what popped out. It irks me I could have had this channel in place years back.
Filed under: Live and Learn
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