Rashad

Long Term SPY Fib Arc

AMEX:SPY   SPDR S&P 500 ETF TRUST
spy
I drew a Fib arc from SPY's low in 2009 to SPY's recent lifetime High in 2014. There appears to be clear areas of support and resistance . I used a line instead of candles as zooming out this far makes them very crunched up. The line I am using is derived from the OHLC4 price. I labeled support and resistance where ever it seems to be obvious. I am not making a prediction, this is just an observation.