DOW long term Fib resistance level and analysis
The 2008 crash top and bottom can be derived by making Fibonacci resistance the top and bottom of the 1987 crash. The time of the 2008 crash (to the nearest 2 months) can be found by creating a Fibonacci time ratio between the 1987 bottom and 2000 top. If you use these same rules again the next Fibonacci resistance is around 27,000 and if you create a Fibonacci time ratio between the bottom of the 2008 crash and the top of the 2016 sideways correction you get the last couple of months of 2018. We also seem to be in elliott wave 5 of this bull market so that resistance looks particularly dangerous.
I'm not saying you should sell your house to buy short contracts but if you are long stocks maybe best to take profit there.
I'm not saying you should sell your house to buy short contracts but if you are long stocks maybe best to take profit there.
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