A Top in the S&P500?

[wheatking16]

The SPY ETF is testing a 1.618 Fibonacci Level, suggesting this could be a top.

[jazz]

Simply put, nope. There is another fib at 700. The small caps will be joining this rally now.

[wheatking16]

Simply put, nope. There is another fib at 700. The small caps will be joining this rally now.

Not thee top, but a possible local top.

Until new highs, I look for a pullback to 511 or 480.

[Grahamp]

lol it may be but there are fibs at .618 1.618 2.618 3.618 also 1.38 1.236 etc etc. It will always stop on one of them.

[wheatking16]

Yeah, but you concern yourself with the next level first.

And they don't always stop at any of them.

They are all levels of interest.

[errolanderson]

READY, SET, GO! Is this day 1 of a prolonged global equity bear market? NASDAQ this week . . . .
errolanderson.substack.com

[crusher]

Just got an email from my financial adviser. My stocks are up over 20% in the last six months. My GIC's same period 2.5%. No risk no reward.

[foragefarmer]

READY, SET, GO! Is this day 1 of a prolonged global equity bear market? NASDAQ this week . . . .
errolanderson.substack.com

Your chart is a short week.

NASDAQ up 115 on Friday.

[wheatking16]

Our video update:

[wheatking16]

The SPY ETF is testing a 1.618 Fibonacci Level, suggesting this could be a top.

Sometimes they work out.