The two year daily chart shows an interesting adventure today. The Dow Jones 30 stock average opened way down at 15563, slumped to a low of 15120, rallied to 16360, and closed at 15876.
A standard Fibonacci division of the range from the May high of 18353 to today's low of 15120 shows that the high of today came within a whisker of 61.8% off the top of the chart, and the close was almost exactly 73.6% off the top. Remarkably the close was almost exactly the same price as the October 2014 low!
There are hints in this chart action and elsewhere that the Dow will see lower prices before long. But of course, anything is possible.
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