If you look at the move from Nov '08 we moved just less than 20% before the sell off...if we had a similar move now it would mean low 800 in the S&P 500...The Fibonacci levels look closer to 850 if you take high to low in the past year...
Reality is??? Probably neither...what if we failed today and go lower? What would CNBC have to say?
posted by Peter Greene
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