testing fib 61.8 retracement at 6000 ..., page-37

Continuing the idea of this being like 1974, at least in US markets.

The high in 1973 was 7 years after the 1966 major high and was a bull failure.

The high in 2007 was 7 years after the 2000 high and a was bull failure.

The 1973 top was 12th Oct.

The 2007 top was 11th Oct.

1974 saw an important low on Jan 10th.

2008 has a low so far on Jan 9th.

OK, so what comes next.

1974 had a top on Jan 31.

Jan 30 is FED day and my Gann square of 90 completes then for our market.

1974 had a low on Feb 12 and then a high on March 14 and then it was all downhill till Oct 4.

March 14 is of course 5 years from the bear low in 2003.

I have split the 1973/4 SP500 chart in two for better visibility.