Tag Archives: Fibonacci retracement levels

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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A Few Technical Levels Stock Traders and Investors Should Be Aware Of

Fibonacci retracement levels have been playing an important technical role recently due to the fact that they reflect the mass behavior of the creators of the robots that generate about 50% of the volume of the stock market. Actually Fibonacci levels are in … Continue reading

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Crude Oil Technicals Point to a Test of the July 2012 Lows

After a Fibonacci style retracement of 61.8% of the recent uptrend defined by the July low and the September high, crude oil technicals point to further weakness. However, readers should be aware that price action is determined by fundamentals and technicals only … Continue reading

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Fibonacci Versus the 50-day Moving Average

While most technical analysts are focusing this weekend on the fact that the S&P 500 stayed above its 50-day simple moving average on Friday, QQQ, the NASDAQ-100 ETF, found support at its 38.2% Fibonacci retracement level. I find the latter development … Continue reading

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A Stunning Compliance With Fibonacci Levels in Bond Market Action

I wrote about this bond market compliance with Fibonacci levels as of the close three days ago and after TLT has retraced exactly 50% the drop from the July 25 high to the August 16 low. Yesterday, TLT rallied because of – … Continue reading

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Fundamentals or Technicals Caused Friday’s Correction?

Most journalists attributed Friday’s correction to the dismal employment report. Let us assume for a moment that the report was exceptionally strong. Would the market rally or drop? I think it would drop in this case too because very strong … Continue reading

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(No)Technical Analysis for AAPL

May is usually a very interesting month. Projected expenses of professional traders and hedge fund managers are very high during the summer, like for example fuel cost for yachts has increased substantially and rents of summer houses in the Hamptons are skyrocketing. It is therefore … Continue reading

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