Fibocrypto

Fibocrypto t1_jaewyek wrote

Reply to comment by hummmduno in S&P 500 analysis. by hummmduno

My pattern is based upon the 60 year cycle. If this correlation is to continue then the Dow will basically double between now and the year 2026 and then a long term bear market would be expected. We will find out soon enough . For me and for other reasons March 20-21 and June 10 will be important to me this year and both should be some sort of a low . Your work from the little I can see kind of fit with that June period .

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Fibocrypto t1_jaelzxa wrote

Reply to comment by hummmduno in S&P 500 analysis. by hummmduno

Then again I am looking out further than you are and I'm using a longer pattern and I'm showing a longer historical correlation than you are. I have backed up my pattern by including a simple indicator and I have included a timing component which will help to prove myself correct or wrong . Right or wrong the market is going to decide . I was just trying to add content to your content . I've still got 2 to 3 weeks before I take on any leveraged positions . We will know soon enough . I'm going to correct the above . We both are looking at similar durations so I take that back . Good luck and I hope we both come out ahead over the rest of the year.

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Fibocrypto t1_jaejeuo wrote

OP, For what it's worth I have one overlay for you to consider followed by 2 key dates that I think are important this year .

https://preview.redd.it/sfuv2mm7h1la1.jpeg?width=1119&format=pjpg&auto=webp&v=enabled&s=864d3d569a379d9079dbdce68ebd3c1f040c0f7a

This pattern if you wish to call it that is the Dow Jones industrial average from the year 2022 to date and in the background is the years 1962-1963 . Both being weekly bars Additionally I'm focused on march 20-21 and June 10 as my 2 most important key dates this year . This chart was updated as of Fridays close . Call us both regards . Looking at the Dow daily chart and using the 14 day RSI The Dow tends to have strong bounces following a poke below 30 and while rare a poke below 27 is not an impossible possibility.

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Fibocrypto t1_j6m11sr wrote

All of the option sellers I've ever talked to never buy thier short puts or calls back . If a person is long the stock and the short calls get exercised they simply sell the stock . III f the short put option goes in the money they then buy the stock. What you are looking at might work and if so you could use it as part of your own entry or exit stradegy but for me I'm not sure

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