Couple Quick ES Charts...

30. August 2009
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ES 610T: One of my favorite fib ratios is the 1.272 fib extension.  To illustrate how often we see this ratio, see the charts below.  When the market opened Sunday afternoon, we gapped down and hit the 1.272 fib extension exactly (see arrows and levels).

 

After this level was hit, we filled the gap and hit the 1.272 fib extension of the above mentioned move down.  Then another reversal to the downside.

 
 
UPDATE: Thanks to D. Choi:  Then later on, another...  
 
 
 
 

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