brian day's analysis:
since you asked: the fibonacci 162% is an important number, per top tech analyst at ubs who has been right many times about major turns.i draw them differently than most everyone, but based on constance brown's advice in her book which is used in the certified market tech certification tests.
the dow just made a double top exactly on this retracement! notice the lower tops on the purple histogram of the relative strength of stocks to bond which indicates higher risk for stocks.
can they pull off another? of course, but with greater risk. fun times for all...
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and until the weekly RS reverses, this is a long term top:
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