Friday, March 29, 2013
The 1560 target area was met, and then we traded the 1530-1560 range.
My platform does not provide futures prices required for the calculations below so these are SPX prices which is generally about 5 handles higher than the futures.
One Fibonacci target is 1585, another is 1576.
The trend line from March 2000 indicates a target of 1592 as do other relationships.
Using these calculations, I am now expecting the target where final capitulation will occur to be between 1575 and 1592 SPX.
Posted by Robert Campbell at 07:55