Both the Dow and the S&P 500 have reached the feared 50% Fibonacci retracement level.
This level activates what is called the “fight or flight” response, which has been part of our genetic makeup for thousands of years.
Many bulls are taking profits and moving to the sidelines to protect themselves from harm.
In my latest short video I examine both the Dow and the S&P 500 and tell you what I think is going to happen to both of these markets in the near and intermediate term.
More on this topic
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Dow 10,000: Buy it, Or Sell it?
(Investment U, 10/19/09)
CAUTION: The Market Rally is Over
(Stock Trading To Go, 10/28/09)
Glenn Neely: Multi-month decline
(All Allan, 1/22/10)
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