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Turning Point?

Below is a chart that I have been watching for the past couple months. It shows a Fib Time Expansion by taking the time range from the all-time high to the Mar 2008 low and projecting forward.

The 61.8 is an outlier. And while the 38.2, and 100% are not perfect, they are in the ballpark. It gets more interesting, when you look beyond 100%. The 138.2, 150 and 161.8 were each quite close. Now, we also have the 200% that hit on Jan 21st.

While not the same convincing prices action we saw in some of the others, we cannot ignore the 5 of 6 that how presented a tradeable reversal within a couple days of these pivots. If the past hold true, it would seem we should get a reversal move here of some magnititude.

Food for thought.

Fibonacci Time Expansion

Cross posted from Spiral Markets

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