Technical Analysis of Financial Markets

Monday, March 10, 2008

S&P500 38.2% Fibonacci

The S&P500 weekly is approaching the 38.2% Fibonacci retracement level of the entire 2003-2008 bull market. Typically, this area may serve as support and commencement of a trend-reversal towards the 23.6% Fibonacci retracement level or the underside of the broken trendline.

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