June 11, 2010

SP 500 Fibonacci levels in daily chart


  • SP 500 yesterday has closed above its 23.6% fibonacci level in daily chart.
  • The next target for this index is the 38.2% level. This comes around 1110.
  • Any move towards 50% retracement is possible only on a firm trade above the 38.2% level which can act as a resistance for SP 500.
By at

2 comments:

  1. ttthakurJune 11, 2010 at 7:30 PM

    San,
    Hi.
    I keep visiting your blog and trying to learn TA.
    Thanks for the excellent charts and comments.
    I have a request-Would you please post a chart of Ind Swift Laboratories with your valuable comments. Do you feel the stock is on verge of a long term breakout?
    Thanks
    ttthakur

    ReplyDelete
  2. SanJune 11, 2010 at 8:28 PM

    Will look into it during week end. Thanks for the comments

    ReplyDelete

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