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The index charts have certainly provided us with great examples of Fibonacci price pattern and timing working together. The daily Gartley support patterns held within timing low parameters and gave us a pretty rapid answer as to whether this would lead to a rally. We were able to calculate this and project the probable lows once the interim swing high on July 1st was established; you can find these projections in my previous columns. Often these Fibonacci based time and price projections (when performed correctly) show the power to overcome more conventional price patterns, such as the potential head and shoulders pattern which was also in place on the index dailies.
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