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[Previous entry: "S&P, weekly E-Mini Bread and Butter trade."] [Main Index] [Next entry: "SPY follow-up."]
03/12/2007 Archived Entry: "FibMaster Indices update SPY."
OK I'll stick my neck out.. The S&P (SPY) chart could easily reach $143.00 in the near-term, and there is a strong chance it would fall back to $137.25 afterwards. In response to a trader question about the SPY weekly Bread and Butter trade.. Yes the L6 rally is very likely, but on a weekly chart the profit might not be large. It depends on whether the market stalls before that rally (to position the 3X3 lower). We've already reached the L3 (just about), and no weekly entry trigger, not much profit if the chart spikes to L6 quickly.. Today's full update with specific support/resistance levels are here: Click here for FibMaster's chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
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