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Harvesting at Fibonacci worked in 2007 at the 38% level. Now this same level is being tested again! Results going to be different this time? As usual, I would want to be an owner of this index on an upside breakout!
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I would be very careful in going long on the equity markets right now. The current conditions for the stock market are very much overbought, over extended and overly bullish. Even a short term trader should be very cautious.
last year there was a significant post-holiday correction after the santa claus rally. also not clear how rising interest rates and commodity prices and falling home prices will benefit company earnings/stock prices going forward, if that matters.
IS… I would think so. Russell has been a leader performance wise over several weeks.
Chris,
If the Nasdaq 100 broke resistance would the Russel 2000 move up as well?