SPX Fib’s

Lets look at a daily Chart of SPX and attach  simple Fib retracement levels. The  all time highs to the correction lows  are top and bottom levels to use.The most important of the Fib levels are the 61.8 % and 38.2% .Take a look below at Cash chart and you can see that prices found resistance at 61.8% and then once Broken above  have found support.How do we play this ? I believe it is above 61.8 ,~2743 ish play from the long side   below play from short side. Currently  SPX @ 2752

ew spx

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.