Tag: fibonacci levels

Using Fibonacci To Gauge A Bounce

I’d like to take a look at this week’s move in the broader market ($SPX) and see what happens tomorrow with options expiration. To do this, I’ll take the high of the week and the low of the week and then plot the Fibonacci levels. If the market can climb above and close beyond the

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One, Two Punch For The Bulls

Looks as though the bears won out on the argument of the recent market action as the major indices suffered their worst loss since the crash of 1987. Seems to make sense to have such a day as last week we had the biggest gains since 1933. The only silver lining is that volume was

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Eureka! We have support?

Well, remember that screaming toddler (the equities market)? Instead of giving them the bag of candy (full point cut) they were given a handful (1/2 point). The problem is, that they ate that handful and it didn’t last and now they want more. It is highly doubtful that another cut would come before the Fed

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