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
Nearly 50% Retracement
Pretty decent gains today and on some good volume so add another tick to the “crazy” side of the market. If you look at the $SPX on an intra-day basis you can see that we didn’t quite make back 50% of the losses from Monday’s sell-off. Keep an eye on that level ($852.15) tomorrow to