Tag Archives: Fibonacci retracement levels

Strong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from the lows of October and it is found -2.15% below yesterday’s closing price. If this attractor is tested, the net loss … Continue reading

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The Good, the Bad and the Ugly Scenario for S&P 500

There is almost always a good, a bad and an ugly technical analysis scenario. Even if it does not exit, we can always make up one.  In the case of S&P 500 it offers three possible support levels at 0.75%, … Continue reading

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Another V-Bottom in S&P 500?

After a 61.8% Fibonacci retracement of Thursday’s high-low range on Friday, the S&P 500 may be preparing for another V-bottom and new all-time highs. This year we had 3 major V-bottoms in the index and last year there were 4 more. … Continue reading

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SPY: After a Dance with Fibonacci the Real Test is Coming

After getting trapped for two days inside a channel defined by the 38.2% and 50% Fibonacci retracement levels of the rally that started last February, SPY is now getting ready to face the challenge: Resumption of the uptrend or start of a downtrend? If you … Continue reading

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Gold Rebound Continuous to Key Retracement Levels

The popular gold ETF, GLD, after reaching a low of $114.68 in June of this year has rebounded to the 38.2% Fibonacci retracement level of the downtrend that started in October of 2012. Prices are now in overbought territory and at strong … Continue reading

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