S&P’s 50% Retracement level (Monthly Chart)

November 19, 2009 · Posted in Fibonacci Levels · 1 Comment 

$SPX is trading near its 50% retracement level (1120) from Oct. 2007 (1576) to the low of March 2009 (666). This level may act as resistance for short-while. Note $SPX.x also trading above 200-SMA on Monthly chart.

SPX_M_Nov1909