The concept of psychological levels were brought up on Skype today. I remembered one rather eerie psych level that someone at a traders group brought up. Take note of the bottom of the market with the SP 500 in March 2009. Many are quick to point out it was $666. This discussion came up when people were trying to predict the top of the market in May of this year potentially being $1666. Let’s see that level on a chart…
Scared yet? Is this who controls the market:
Or is it just a fun level for a lot of traders to think so and key in as their orders?
