Life is full of lessons and helpful tips.
Like, don't stare at the sun.
Look both ways before you cross the street.
wash your hands after using the restroom with soap and water.
If you've ever heard of the stock market, the first thing you'll ever hear is "buy low, sell high."
Apparently there's a lot of people out there that somehow have lots of money and have never heard this stock market tip.
The almighty Nasdaq top was in last week. It was evident before it happened and at what point it would happen using a simple Fib tool.
Can this index go higher? Of course. As long as there's a greater fool out there with money to burn, insiders are going to get top dollar for their shares. Just imagine, there's an idiot out there who gets a stimulus welfare cheque and what do they do? they give the money to millionaires and billionaires in exchange for overpriced stocks that are going to tank.
But can I feel sorry for them? Anyone buying stocks to hold at this point are going to learn a valuable life lesson. Buy low, sell high, but in order to do this there needs to be a sucker on the other end buying high and selling low.
Thanks for dropping by. stay safe.
don't you use log?
and isnt the fib retracement tool used the other way around?
from last high to last low to look for the next high..?
fib tool doesn't care about log or not, it measures the same.
I'm looking at the golden ratios. on the last highs on the nasdaq I've circled where the arguments were happening, and from there the next resistance would be at the 161.8% line, which we've now tested twice.