Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Tuesday, April 16, 2013

Correction finally here? Fibonacci retraces

Have the equity markets finally reached a short term peak?

Look at weekly charts


showing previous corrections related to Fibonacci retracements
So if a correction has started for worldwide indices can probably expect FTSE to find a low either at 38.2 % retrace 6125 or 61.8 %  5955 (approx)

now adding on some trend lines

DOW weekly

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