- Two charts SPY Fibonacci levels and the main levels for next week shown in the second chart.
- SPY is trading above its 61.8% fib level which is positive and next week if continues to trade above 61.8% level chances of 100% retrace level will increase.
- Main level to watch for next week is 114 and 115. Trading above 115 SPY will target 117. Trading below 114 will be negative and will be followed by a correction or a sideways move.
September 26, 2010
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.