July 15, 2011

SPY and Dow Jones Fibonacci levels

  • Dow Jones hour is showing price taking support @ 38.2% Fib level.
  • SPY Hour chart shows support coming @ 50% Fib levels.
  • For bears these levels has to break convincingly. Hour chart still shows a falling wedge kind of pattern so If these levels hold then we may see bullish reversal patterns playing out.

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