Market Analysis (S&P500) - 8/11/2018

in #trading • 6 years ago (edited)

sp500-index-invest-portfolio-benchmark-income-performance_large.jpg

Hellooooo steemian traders! What's going on? Hope you guys had an amazing day. In this post I'm going to make a quick market analysis.

The image below shows my Fibonacci retracements on the S&P500 on the daily chart. When I talk about Fibonacci retracements I usually seek confluence levels: levels with at least 2 different Fibonacci numbers. The confluence zone between 2817,84 and 2820,5 (3 different Fib levels) was reached yesterday and rejected today. For tomorrow and the rest of the week I expect a strong pullback, because since 29th October we've been in a strong rally of 6,59%.

daily1.png

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6 years ago in #trading by
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