New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Approach for forecasting extent of rally?
I have seen articles over the years about technical approaches ('rules-of-thumb?') to extrapolate from prior price patterns and estimate the likely extent of a rally. With the S&P 500 in consolidation following the 2000 high at about 1500, and with a second top at about 1500 in 2007, that index is now nearly double that level – near 3,000. Can anyone remind me of the approach I have seen previously that estimates where the top may lie? Thanks!