Analyzing a 2-day 15-minute interval S&P 500 chart from last week, August 19-20, 2010, provides a valuable lesson in Fibonacci ratio related market action. The Level 3 grid included in the chart below comes from drilling down through the Fibonacci ratio price grids in the entire 1982-2007 bull market. What this chart demonstrates is that…
Read more
No August Surprise, Just a Modern Day Jubilee Debt Collapse
Markets were briefly in a tizzy last week because of the rumor the Obama Administration was poised to announce an August Surprise, supposedly the forgiveness of at least a portion of millions of mortgages held by Fannie Mae and Freddie Mac for underwater homeowners. The word on the street was that this planned debt forgiveness…
Read more
