The Dow has indeed hit its 76.4% from the highs, and reacted to it to the pip. 130 pips down as I type, which is nothing for the Dow, so we'll see how it finishes the day. Looking bearish at this early hour of the day, and Dax already well off the week's highs and looking like there could be a lot further to fall.
I said above that this could be one of the most significant few days in the history of the Stock markets, and I meant it. Time will tell.
ps - just for the record. On October 11th 2007, the Dow, having put in new highs and created strong diversion, halted its northward advance and began coming down.
On the 3rd October 2018, having formed a double top with the 29th January high, the Dow halted it advance and began coming down, also forming diversion, as did the S&P 500.
On the 11th December, 2007, having rallied over 1000 pips, the Dow stopped rising just short of its 76.4% fib retracement from the highs. From that level, the Dow fell 7,300 pips to its March 2009 lows.
On the 8th November, 2018, the Dow, having rallied 2,164 pips off its 29th October low, hit its 76.4% retracement from the highs, from which, at this present moment in time, it is falling.............
I said above that this could be one of the most significant few days in the history of the Stock markets, and I meant it. Time will tell.
ps - just for the record. On October 11th 2007, the Dow, having put in new highs and created strong diversion, halted its northward advance and began coming down.
On the 3rd October 2018, having formed a double top with the 29th January high, the Dow halted it advance and began coming down, also forming diversion, as did the S&P 500.
On the 11th December, 2007, having rallied over 1000 pips, the Dow stopped rising just short of its 76.4% fib retracement from the highs. From that level, the Dow fell 7,300 pips to its March 2009 lows.
On the 8th November, 2018, the Dow, having rallied 2,164 pips off its 29th October low, hit its 76.4% retracement from the highs, from which, at this present moment in time, it is falling.............