Replies to post #45489 on Short Term Trading Member Forum

[techcharter]

SPX hit 1st Fib Number

SPX retraced the 33% fib ratio of the rally out of the March '11 lows. The larger picture is wave 3 of 3 probably unfolded today. Waves 4-5, of several degrees should find support around 1305, the 38.2% fibonacci, over the next 2-3 days.