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Post Brexit Fibonacci Retracements

WOW!! What an impressive rally!!! Err, on second though, not really, at least not at this point. Essentially, all we have so far is a run-of-the-mill counter-trend bounce that has taken the following key indexes & sectors back to the lower-end of a typical retracement of the most recent legs down from last Wednesday's highs. Does that mean that the markets must stop here & can't go any higher? Of course not. Do I think they will? Probably not. Either way, here are some 60-minute charts with the Fibonacci retracement levels circled on the left margin of each chart:

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Jun 29, 2016 12:55pm|Categories: Equity Market Analysis|Tags: , , , , , , , |6 Comments

6 Comments

  1. snp June 29, 2016 12:59 pm at 12:59 pm

    $6000 run of the mill

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    • rsotc June 29, 2016 1:32 pm at 1:32 pm

      Nice run snp, congrats!

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    • Shambo June 29, 2016 1:37 pm at 1:37 pm

      nice work!

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    • snp June 29, 2016 2:11 pm at 2:11 pm

      i will take an $8 move in spy no matter which direction its going, just TTMAR

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  2. tmeyaart June 29, 2016 1:17 pm at 1:17 pm

    Nice to see Fib retracement analysis. thanks.

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  3. Art June 29, 2016 1:38 pm at 1:38 pm

    Nice SNP!!! way to go

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Comments are closed.