Quote Originally Posted by nickola.pazderic View Post
Hi Pascal, Billy, and all Trading Wizards,

Do you'all put any stock in magical Fibonacci retracements:

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People are noticing the break of the 50% retracement here on the SPY.
Absolutely. Not so much in market mechanics, but because people believe and code their systems to the Fib numbers.

This is why you see GGT MAs of 2,3,5,8,13,21,34,55...

As an aside, I note that the SPY finished below the YPP and that IWM finished below SS3, with the Q's significantly below QPP and SS1. These are now significant resistance levels....

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Make it a great Thanksgiving all.

Regards,

pgd