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A Look at SPY Technical Levels

Scott Redler
May 23, 2013, 11:22 AM

Daily

 

The market went from yesterday's highs of $169.07 to this morning's lows of $163.49. So far we've bounced to the 25% Fibonacci retracement of that move.

 

Here are the Fibonacci levels to watch:

38.2% at $165.90

50% at $166.50

61.8% at $167.11

 

Measure the potency of the down move by using retracement levels of this bounce.

 

 

 

5-min

 

So far we've had a 25%ish retracement bounce from yesterday's high of $169.07 down to today's low of $163.94. Bears will need to defend some of the higher retracement levels to have hopes of lower prices. Below there are listed. You can judge the potency of a move by the type of retracement with the next few sessions.

 

Last Updated ( Thursday, 23 May 2013 16:41 )
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