Interesting S&P 500 Chart using Fib Retracements.

Posted by Investing Freak on February 09, 2009
Market Analysis

I have gotten carried away lately with life so this blog hasn’t received the tender caring love.
Tonight I bring you a chart I have been watching since mid January.

There is support of 818 and 804 on the S&P 500 and resistance at 890.  I will add to my short positions at 890 or if we test our supports I will watch closely as I think third time is a charm for a breakdown.

Without further delay here is the (in)famous chart.  Click to Enlarge



Hope you like it.

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