HomeFreeSPY-8-20-15 the bigger picture

The 161.8%XA extension of the 2007 high and 2009 low has been resistance on the upside since the start of this year.

We have been watching this chart for years in anticipation of price reaching the 161.8%XA extension. We shouldn’t be surprised to now finally see the long debated and infamous pullback.

SPY-8-20-15-monthly

Currently we see a possible XABCD pattern, where we would have a possible PRZ of the CD leg down, starting at 202.93

this is in line with the lower range the SPY has been trading in since beginning of February.

Daily chart SPY

SPY-8-20-15-daily


Comments

SPY-8-20-15 the bigger picture — 4 Comments

  1. at the moment im L day trades off 48 49 es// LT higher yea I ll ss no real basis cept 240 buy set up…. had so flip positive,,Gr8 job peter!

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