Of Fib Zones And Fascism

Friday just barely missed the lower zone of the Fib target, getting to 2071.46 vs. a target of 2072.02.

The surge was impressive . . . until it ended. Sliding back to 2056.75 was not impressive.

Such is a market completely and totally addicted to central bank stimulus and the buybacks encouraged by such stimulus.

This is not a free market.

This is not capitalism.

This is central planning and fascism wrapped up and cleverly packaged as a bull market.

It can go higher.

2095.06 is merely the upper end of a Fib zone. There can be others.

There can be large swings, too.

For right now it feels as though the large swings lower may have to wait.

That is until a close below 2,056.08 were to happen.

And if something occurred below 2,024.46 it would likely be a stern warning shot across the bow.