What Fibs and RSI are saying for SPX500
Updated
We are at at a 38% retracement, there is the 23% above with a huge 2040 resistance above and there is the 50% retracement and a 1940 support below. This is the range to trade. We are looking at at the failure of 38% level for a short. If it holds trade long to 2040 but dont hold your breath to go above that.
Key things to note:
1. Overall impact from the Britain exit ( its now included in price)
2. Currency wars start ( china is first on the line) - not priced in
3. Earnings season starts July 11th, currency headwinds adjustments to guidance
4. US elections impact ( do not underestimate this part)
The eye is only an indication....its just a proposed area to watch.
Key things to note:
1. Overall impact from the Britain exit ( its now included in price)
2. Currency wars start ( china is first on the line) - not priced in
3. Earnings season starts July 11th, currency headwinds adjustments to guidance
4. US elections impact ( do not underestimate this part)
The eye is only an indication....its just a proposed area to watch.
Note
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