Matt is referring to Fibonacci retracement levels (pl google if
you are not familiar), specifically the 50% and 61.8% retracement
levels. Here is a SPY chart for you to see the numbers.
Thank you Vida and sorry super I didn't see your request.
This weekend I was looking at a few scenarios and I have been using
7/7/11 at the high and the same low as Vida. In that case the
38.2% correlates with the the gap on the SPY around 120, the 50%
then comes in at 123 and then the 61.8% at 126. Those numbers
are not exact but surprisingly they are within a few pennies of the
round numbers. So depending on what day you use as the high
and low it can vary slightly. I saw that we had a gap to fill
on the upside of the SPY around 120 so I found it interesting that
using 7/7 as the high also then had a correlated fib
number.
Update - I put my fibs next to Vida's so now you have a chart
with both to use.
Matt is referring to Fibonacci
SPY Current Trade Exit signal
Posted by Vida on 15th of Aug 2011 at 12:03 pm
Matt is referring to Fibonacci retracement levels (pl google if you are not familiar), specifically the 50% and 61.8% retracement levels. Here is a SPY chart for you to see the numbers.
SPY daily
Thank you
Posted by superdupa on 15th of Aug 2011 at 12:22 pm
Thank you Vida and sorry
Posted by tom on 15th of Aug 2011 at 03:10 pm
Thank you Vida and sorry super I didn't see your request. This weekend I was looking at a few scenarios and I have been using 7/7/11 at the high and the same low as Vida. In that case the 38.2% correlates with the the gap on the SPY around 120, the 50% then comes in at 123 and then the 61.8% at 126. Those numbers are not exact but surprisingly they are within a few pennies of the round numbers. So depending on what day you use as the high and low it can vary slightly. I saw that we had a gap to fill on the upside of the SPY around 120 so I found it interesting that using 7/7 as the high also then had a correlated fib number.
Update - I put my fibs next to Vida's so now you have a chart with both to use.
SPY with Fibs
Rally could easily last another
Posted by ditch on 15th of Aug 2011 at 02:32 pm
Rally could easily last another two weeks before the major indicators reach over bought.
Yep...
Posted by burkmere on 15th of Aug 2011 at 02:41 pm
Could certainly go back up to 126...
yes, I just sold half
Posted by Michael on 15th of Aug 2011 at 03:04 pm
yes, I just sold half my SSO with SPY around 120.20, to correct some over-exposure. Letting the rest ride for now.