$Nasdaq Composite Index (.IXIC.US)$ Gravity is he Italian al...

$Nasdaq Composite Index (.IXIC.US)$ Gravity is he Italian also?

They say if it ends in a vowel it's Italian, gravity is that Italian? I don't think so but Fibonacci is.

What goes up must come down that pretty much surmises Fibonacci it's a 50% retracement from a run which represents a consolidation reversion to the mean your pick.
The Chinese stocks have gone ballistic last week people bet that it was going to continue Monday they're getting their asses handed to them and it continues today. all one needs to do is look at the a few dollars higher then the 20-day moving average on any ETF any stock any ADR that went parabolic and that's where you're going to get your consolidation because that represents your 50% retracement you're Fibonacci retracement we're gravity's going to pull the stock back down to and represents a reasonable price for you to enter looking for another round of gradual appreciation.

If China stimulates her economy by pumping more money into it another round which was also expected yesterday which didn't happen then you will see another Spike higher but chances are the second leg does not exceed the first Spike.
The reason is because so many of these stocks and ETFs had massive short positions and those that were short got their asses handed to him and they had to cover and close their shorts.
So this next leg up either through gradual appreciation or another round of stimulus from China will not exceed the prior Spike so just keep that in mind.