Lately I've added to my chart a Fibonacci retracement plot of the low and high of the last 5 days. It's worth noting that the low tick of today's sell-off was made on the SPY within 4 pennies of the 50% retracement of last Friday's low to Monday's high. Props to Trader X for selling me on Fibonacci. Read his blog.
1 comment:
Hi. Yes I am still bullish and expect a possible gap up or trend day with continuation into close. I am long GS still as today I let fate be my driver and avoided the candles we so very much love/hate. Todays selling was WEAK compared to past selloffs and IMO today was a bullish day.
Bye.
-sloth
Post a Comment