testing fib 61.8 retracement at 6000 ..., page-34

I reckon there's quite some danger, well, more than usual anyway, in being a contrarian in times like these. I usually like the contrarian perspective but sometimes a more face value perspective might pay more. For example, a contrarian might see that a rally from the aug lows is a safe bet, but a 'face value' perspective (for want of a better term) might say that spx has broken the neckline of its h&s top, restested it and failed to regain it on that retest thus confirming the break of necklne... price target: 1260 roughly. Gee, that takes spx back to the regions of the 06 lows.. discounted for (inflation plus earnings gains) over that time..