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Interesting Fibonacci Extension, 2009.05.29

31. May 2009
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I often like to look at past moves to predict future moves.  On Friday, we had a choppy sideways movement, followed by a late afternoon rally.  The rally we had in the afternoon (right blue arrow) was exactly 2.618x (261.8%) of the rally we had in the morning (left blue arrow).  To the tick!  Also, notice the reaction around the 1.0 and 0.786 levels and a close near the 1.618 level.

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