Posted Jan 2, 2013 by Martin Armstrong
The Fibonacci stuff is just a interesting curiosity that merely showed the resistance at 17633 level. This is by no means a definitive tool. Just a confirming tool at best.
If those monthly bearish reversals go, yes we retest support.
The support in 2012 was 1400. That moves down to 1100 for 2013. As far as taking off with the Sovereign Debt Crisis, it appears that the markets will churn like butter in 2013 and it is interesting that the German elections are lining up with the Panic Cycle in September and the ECM in August. France looks like a sell, Greece perhaps a buy, and Germany a surprise.