0.618 Fibonacci Retrace of +21.22 Point Rise Since Very Early Yesterday 2-25
A 0.618 Fibonacci retrace of the +21.22 point SPX (S & P 500, http://bit.ly/i0nsT) rise since very early yesterday 2-25 (5 day chart http://bit.ly/3qGxf3) implies a -13.11 point decline to 1094 on Monday.
SPX (S & P 500, http://bit.ly/i0nsT) volume was a well below average 3.580 billion shares today 2-26-10 vs the 60 day EMA at 3.904 billion shares, which is a bearish indication for early Monday 3-1-10.
VIX was down -2.99% today 2-26-10 vs SPX up +0.14%, which is a bearish indication for early Monday 3-1-10.
SPX (S & P 500) put in what appears to be a Short Term Wave 4 Cycle Low yesterday 2-25, see http://bit.ly/i0nsT. A Monthly Upcycle began on 2-5-10, when a very large bullish inverse spike (2-25's was large/bullish) occurred on a white candle (close above the open).
Labels: Business, Finance, Investing, Markets, Money, NDX, News, RUT, SPX, Trading, WMT, XOI, XOM
posted by Joe Ferrazzano at
3:46 PM
3 Comments:
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
By
Joe Ferrazzano, at 3:56 PM
The 5 day DJUSFN/WMT/XOM Lead Indicators are very bullish/very bullish/bearish, see http://bit.ly/90I4Mz
By
Joe Ferrazzano, at 3:57 PM
Market breadth closed mixed, which is a bearish indication for early Monday: see http://bit.ly/lPIyW
By
Joe Ferrazzano, at 4:17 PM
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