Don’t believe in the power of Fibonacci price levels? Perhaps this two-pack of stock market charts will change your mind.

Back in late December, I warned that we were approaching the 261.8 Fibonacci resistance level on the Dow Jones Industrials:

“We are now at the 261.8 Fibonacci price level.  Will this level bring market turbulence… sideways, lower, etc… ?  Stay tuned.”

So what happened after hitting this level?  Well, all kinds of win streaks ended and both the Dow and S&P stopped on a dime!  Market volatility picked up and investors saw the quickest 10% decline in history from all-time highs.  Will this become a “wall of resistance”.

The exact same thing occurred on the S&P 500 chart further below.  Coincidence?

Once this level was hit, both the Dow Jones and S&P 500 produced “hangman” candle patterns the following month (February). Yes, bulls may have trouble tearing down this wall of resistance!

Dow Jones Industrials – 261.8 Fibonacci “Wall”


This post was originally written for See It To see the rest of the post and how the S&P is facing the same “261% Wall”….CLICK HERE

View our most recent webinar multi-decade patterns in play and how to take advantage

Get my daily market insights sent to your inbox FREE daily or weekly



How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past