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Critical Fibonacci Levels At Play

Published 06/14/2022, 11:02 AM

This market is even weaker than I imagined. As I said in my last post, my brief fling with bullishness was quickly dispatched, and I’m pure bear once more, with 80% committed to positions and 20% in cash, which I think I’ll leave as is until after the FOMC. Please take note of these vitally important Fibonacci levels!

S&P Futures 5-Minute Chart.

For the S&P 500 futures, support has changed to resistance.

NASDAQ 5-Minutes Chart.

For the Nasdaq 100 futures, after it broke its Fibonacci, it never even looked back.

Russell 2000 Futures Chart.

The last holdout is the Russell 2000 Futures, which is still respecting support.

Latest comments

People that use fibonacci levels also pay to have their palms read by a psychic. Good luck to all I guess
Thanks mr buffet
this index is floating near 52 week lows; and more rate hikes to come. looks like wtr2 will be negative. qtr3 is not guaranteed positive.
It's now about what JP says, not does. Powell needs to grow a pair and act. 🍒
which level?? couldn't you write??
awesome
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