Someone please explain this to me

Posted on | Sunday, April 18, 2010 | 1 Comment

http://www.zerohedge.com/article/correction-fib-618-extension-dot

A day before the GS news broke, we pointed out that the market is poised for a correction at least based on Fib. Sure enough, the ludicrous non-stop rally from the February lows topped at exactly a 61.8% extension of the previous sell-off (1211.6)). Was the Goldman news predicated by the SEC's religious following of Fibonacci signals? Is the 100% Fib retracement next (1144)?

So then we go to the post they're taking about and see this:

http://www.zerohedge.com/article/fun-fibonacci-and-great-depression
The Fib retracement from the highs to the lows in the cycle is now nearly 61.8 (at 1,228). The retracement from the highs to the lows in the first wave of the Great Depression peaked just below 61.8.Does history repeat itself, or come in tidy little Fibonacci packages? Are today's math Ph.D.'s even aware of retracements, or do they just know how to buy, buy, buy on ever declining volume? 1,228 is the magical number on the S&P. We'll find out soon enough.

I'm not too good with numbers but how does 1211.6 = 1228? Maybe someone could help out this product of public schools.

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Comments

One Response to “Someone please explain this to me”

  1. James Krieger
    April 18, 2010 at 8:56 PM

    Fib is exactly that....one big fib (i.e., lie)

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