Last week, the S&P 500 rallied into a Fibonacci Confluence zone which was met with resistance. At present, this zone is proving to be a significant resistance zone which halted the recent strong rally. Let’s see this confluence resistance zone on the daily chart. The main take-away is the following: Drawing off the significant recent…
A couple of readers have also asked me to post the Fibonacci Confluence Levels (grids) for the NASDAQ and the Dow Jones Index currently. Here is a quick, mid-day update on these levels (which, to me, are not as clear as the confluence on the S&P 500). NASDAQ Daily Fibonacci Confluence: The grid logic is…
I’ve been pointing out Fibonacci confluence at the 800 level on the S&P 500 for a little while now, but I wanted to show a third layer to the 800 level which perhaps is turning out to be rather significant resistance. There’s no guarantee 800 will hold, but it can be helpful to know of…
I thought I’d do something a little different in my weekly take of India’s “Nifty” Stock Index ($CNXN) and describe a Fibonacci Confluence Resistance Zone and also run a Fibonacci Price Projection Point as well. “Nifty” Confluence Fibonacci Grid: Without giving away too many of my secrets, or the method behind the madness, we see…
That’s quite an ambitious headline, but it seems the US Equity Market is more than ready for a counter-trend retracement rally up. Let’s look at the S&P 500 to see the structure and how far the rally might last. S&P 500 Daily Chart: Friday’s close and Monday’s close both resulted in dojis in deeply oversold…
It’s on the chart permanently now – the S&P 500 officially closed February beneath the 2002 Bear Market lows – but let’s look beyond that. Did you know the S&P 500 is at a very critical potential long-term Fibonacci support level? Let’s see it on a Monthly chart that dates back to 1980. (You’ll definitely…
We may see a major resolution of the tight range in the S&P 500 this week. Let’s define that range and see what the current S&P 500 Structure is telling us. S&P 500 Daily Chart: I could have drawn numerous trendlines and channels to show the price consolidation but decided to let the price speak…
Let’s take a moment to use traditional Fibonacci retracement methods to find potential price clusters off the November lows as an exercies in multi-level Fibonacci Confluence. S&P 500 Weekly Chart: Sometimes you can get more insight from “Clusters” of Fibonacci Retracements than you can single retracement grids. I’m using the ‘classic’ method of Fibonacci which…
A reader asked me to look at Fibonacci Price Extensions as part of the price wave structure, and this post represents the major Fibonacci Extensions/Projections for the S&P 500 as a guideline for price possibilities going forward. Let’s use this as a reference going forward of the possibilities – though not certainties – ahead. Standard…
Here’s a chart you might want to save as a reference in terms of overhead possible Fibonacci resistance levels and their respective confluence zones. The graph takes the S&P 500 swing highs and runs corresponding Fibonacci retracement grids all to the most recent 750 spike low in November and highlights areas of Fibonacci clusters. Let’s…