AMEX:SPY SPDR S&P 500 ETF
The S&P 500 (also SPY ) recently completed a on a one day time duration/ measurement basis. This is a possible 2618 trade, with the 2.618 level being approximately 1867 (on the S&P 500 ) as a meaningful target level. This would also be a .786 Fibonacci retracement (of the X to A impulse leg). The as well as the (lower chart) is coming down from an overbought level. I currently own the following three positions: SH, DOG, and RWM. The SH is for a downside move in the S&P 500 . DOG is for a downside move in the DOW 30. RWM is for a downside move in the IWM (Russell 2000).