Tag Archives: Fibonacci retracement levels

Crude Oil Technicals Point to a Test of the July 2012 Lows

Posted on October 31, 2012 by Michael Harris

After a Fibonacci style retracement of 61.8% of the recent uptrend defined by the July low and the September high, crude oil technicals point to further weakness. However, readers should be aware that price action is determined by fundamentals and technicals only … Continue reading →

Posted in Technical Analysis | Tagged , | Comments Off

Fibonacci Versus the 50-day Moving Average

Posted on October 13, 2012 by Michael Harris

While most technical analysts are focusing this weekend on the fact that the S&P 500 stayed above its 50-day simple moving average on Friday, QQQ, the NASDAQ-100 ETF, found support at its 38.2% Fibonacci retracement level. I find the latter development … Continue reading →

Posted in ETF Analysis, Technical Analysis | Tagged , | Comments Off

A Stunning Compliance With Fibonacci Levels in Bond Market Action

Posted on September 1, 2012 by Michael Harris

I wrote about this bond market compliance with Fibonacci levels as of the close three days ago and after TLT has retraced exactly 50% the drop from the July 25 high to the August 16 low. Yesterday, TLT rallied because of – … Continue reading →

Posted in ETF Analysis, Technical Analysis | Tagged , , | Comments Off

Fundamentals or Technicals Caused Friday’s Correction?

Posted on July 7, 2012 by Michael Harris

Most journalists attributed Friday’s correction to the dismal employment report. Let us assume for a moment that the report was exceptionally strong. Would the market rally or drop? I think it would drop in this case too because very strong … Continue reading →

Posted in ETF Analysis | Tagged , , | Comments Off

(No)Technical Analysis for AAPL

Posted on May 1, 2012 by Michael Harris

May is usually a very interesting month. Projected expenses of professional traders and hedge fund managers are very high during the summer, like for example fuel cost for yachts has increased substantially and rents of summer houses in the Hamptons are skyrocketing. It is therefore … Continue reading →

Posted in Technical Analysis | Tagged , | Comments Off

Gold Long-Term Fibonacci Retracement Levels

Posted on December 28, 2011 by Michael Harris

Gold is currently testing the horizontal trendline support of an important descending triangle formation as already described in another post. If this triangle fails as a continuation pattern and gold prices continue to slide, this may signal the end of … Continue reading →

Posted in Technical Analysis | Tagged , , | Comments Off

Mass Psychology and Fibonacci Retracement Levels on March 15, 2011

Posted on March 16, 2011 by Michael Harris

The market behavior on Tuesday, March 15, 2011, was driven by mass psychology, which in turn was driven by fear and greed caused by the Japan earthquake aftermath. The big winner of this market behavior was Leonardo of Pisa, a.k.a. Fibonacci. The … Continue reading →

Posted in Folklore, Technical Analysis | Tagged , | Comments Off