markrivest
Short

Very Strong Resistance at SPX 2119 - 2120

SP:SPX   S&P 500 Index
76 2 3
There is a tight cluster of three Fibonacci points in the SPX             2119 -2120 area.

1) .236 retrace of the move 2193 to 2097 = 2120.50
2) .382 retrace of the move 2154 to 2097 = 2119.60
3) .618 retrace of the move 2133 to 2097 = 2119.80

This 2119 - 2120 zone is also prior support.
FOMC announcement is at 2 PM ET on 11/2/16 if SPX             rallies into 2119 - 2120 during that time it could be a great area to short.

Mark
Excellent analysis!
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