"The Bull is Up Off the Floor. What Next?"

"I'm all beat up, but I'm back in action."

2D, 5m. - Mar 4 - Fibonacci retracements of high/low of last two days are shown.  The Gold Spot highlights the 61% line which when breached frequently means a reversal of trend.  As the day played out that is what we got.  There was profit taking at the end of the session.  Tomorrow will be interesting to see if the Bulls can support this Bear Market Rally.
5D, 30m. - Mar. 4 - The market moved through the 20 & 30 day moving averages.  The Bull must be confirmed on the 60 minute time frame.  See Gold Spot.
10D, 60m. - Mar. 4 - The Bull Potato has not yet been confirmed on the 60 min. chart.

3M, Daily - Mar. 4 - The Trend is down.  The move today is just a blip in the larger scale of the market.  A lot of work needs to be done to get things turned around.

"Day 14 - The Bear Gets More Brutal with Age"

"The More I Get the More I Want.  See You Tomorrow!"

2D, Mar. 2 - Bear Day 14 - Brutal sell off during the entire session.  The Fib. retracements were put up at the open with the idea of testing the potential "Gap Close."  The 23.6% level (Gold Spot) was never really challenged.  The day closed at new lows.
5D, 30m. - Mar. 2 - Gap down with continued sell off with S-Curve decline into the close.  Symmetrical S-Curves are frequent phenomena in the market.
20D, 60m. - Mar. 2 - The brief "bullish fake out" of a few days ago was just that; a "fake out."  It will be ignored as we are now into the 14 day of a Bear Potato.  This is the longest lasting potato since we have been tracking this activity.
6M, Daily - Mar. 2 - The breach of the Nov. "low" is now market history.  We went through that like warm butter.  We have not significant support levels to look for that are within reasonable distance.  The market may well be in a free fall with no bottom to expect to bounce from.

Fibonacci Perspectives on Friday's Gap

"Graphic Display of Fibonacci Mathematics"

2D, 5m. - Feb. 28 - Fibonacci retracements of the last two days show a fizzle of upward momentum at just above 23.6% and did not exceed the next level.  This may well be significant as the market rolled over after that.  All of this is so evident in retrospect.   If our foresight could be as good as hindsight we would all be millionaires.  At the same time we need to use the tools we have and Fibonacci can help us.  Check the sidebar for more information on this remarkable 12th. Century Italian Mathematician (Einstein of his era).  At this point we are carefully looking at Fibonacci retracements especially as related to Gap plays.  Stay posted for for our results.