CosmicDust

SPY weekly - on shoulder support - 1/8/2016

AMEX:SPY   SPDR S&P 500 ETF
spy
109 1 4
spy
Here is the overall picture. We can see one long term (solid blue) is broken which is significant. Good news is the right shoulder still holds. Once right shoulder breaks, it may quickly visit .236 Fib, or even .382 Fib - it would never be a straight line down, but the idea is the potential right shoulder breakage marks the definite trend change.

So we will watch the red line closely in coming weeks.
codyhoilman
11 months ago
where do you get that fib indicator from?
Reply
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