Replies to post #38315 on SPDR S&P 500 (SPY)

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Hi 2










Yep, going with the data I have today. Basically will change the "C" of the ABC down if they break above yesterdays highs. If we break the "A" then I would reverse things and we would have an ABC up.... on the A to B move on the SPX we went to the 61.8 fib, which is generally the best reversal fib, and then sold off. So basically we have a tradeable long with a hold short below 1325 so that should be watched on Monday.

Also, the moving averages are inversed on the 15 minute chart with the longer term MA's above the short term. Generally, when this happens you can short any strength till they consolidate and the moving averages converge. Once these converge generally you have strong moves.