#ES_F, weekly ES has been 'struggling' with the 50% level for months now… But even if it breaks out and moves above the 4200 level, it is still too early to call this a new bull market. In my view, the bull market will be confirmed only when ES moves above the 61.8% level. pic.twitter.com/PcsDRTkkDW […]
Chart of the Day – Thursday, January 19th, 2023
Taking profits at the 61.8% retracement continues to be a thing. $SPX $SPY pic.twitter.com/jj1AfyCgwV — Jay R. Ligon (@TheeDisruptor) January 19, 2023 Today’s Chart of the Day was shared by Jay Ligon (@TheeDisruptor). This one is dedicated to all the Fibonacci skeptics out there. Jay points out that each major rally throughout this bear market […]
Chart of the Day – Thursday, April 15th, 2021
The S&P 500 is bumping up against the 161.8% fibonacci extension level from the pre-pandemic highs in February 2020 to the March 2020 bottom. $SPY pic.twitter.com/5fyh2zWnmg — Matthew Timpane, CMT (@mtimpane) April 15, 2021 Today’s Chart of the Day was shared by Matthew Timpane (@mtimpane). It’s a chart of the S&P 500 ETF, $SPY, over […]
Daily Chart Report ? Tuesday, May 12th, 2020
Sponsored By: Today’s Summary Tuesday, May 12th, 2020 Indices: US Stocks closed lower after giving up some of the day’s earlier gains. The Dow Jones Industrial Average fell 457 points or 1.89%. The S&P 500 and Nasdaq dropped 2.05% and 2.06%, respectively. The Russell 2000 was the weakest of the major indices, tumbling 3.46%. Sectors: All 11 sectors closed lower. Consumer Staples led but still […]
Chart of the Day – Wednesday, April 22nd, 2020
Today’s Chart of the Day was shared in a research note by Frank Cappelleri of Instinet (@FrankCappelleri). It’s a bar chart of the S&P 500 index over the past four months. In the note, Frank explains – “The SPX’s 31% rally hasn’t even tagged the 61.8% retracement level yet. From this perspective alone, any counter-trend move […]