yes rmoore100 , SPX at the 38% retracement of the last bull
market move. Typically bear markets retrace 38 - 50% of
previous bull markets, but it's only been a month LOL.
when an initial low is finally put in, I think we'll put in a
long bounce, but then ultimately lower high and over time on the
second leg of the bear market maybe the 50% Fib will be tested if
not exceeded and probably down to the 62% retracement.
hopfully the 50% not on this initial leg but jeez!
but also would it shock me if SPX went down to that 2150 zone
area I showed below? nope.
again to put the timing into perspective: during the tech bubble
crash the SPX made a high in Mar 2000 and the 50% retracement
wasn't until Oct 2002, or 2.5 years later. For the 2008 bear
market the SPX topped out in the fall of 2007 and bottomed in Mar
2009 took 1.5 years later at about 60%. We are down 38% in a
month, not 1 or 2 years later!
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Looks like we are at
Posted by rmoore100 on 16th of Mar 2020 at 04:25 pm
Looks like we are at the 38.2% FIB from the 2009 lows ..... possible short-term support ??????
yes rmoore100 , SPX at
Posted by matt on 16th of Mar 2020 at 05:11 pm
yes rmoore100 , SPX at the 38% retracement of the last bull market move. Typically bear markets retrace 38 - 50% of previous bull markets, but it's only been a month LOL.
when an initial low is finally put in, I think we'll put in a long bounce, but then ultimately lower high and over time on the second leg of the bear market maybe the 50% Fib will be tested if not exceeded and probably down to the 62% retracement. hopfully the 50% not on this initial leg but jeez!
but also would it shock me if SPX went down to that 2150 zone area I showed below? nope.
again to put the timing into perspective: during the tech bubble crash the SPX made a high in Mar 2000 and the 50% retracement wasn't until Oct 2002, or 2.5 years later. For the 2008 bear market the SPX topped out in the fall of 2007 and bottomed in Mar 2009 took 1.5 years later at about 60%. We are down 38% in a month, not 1 or 2 years later!