SPY, S & P major zone to watch.

7 באוק׳ 2015

Our first major hurdle would be a close above the yellow line on the daily, and then the weekly. As you can see the 150 and 200 weekly exponential moving averages are converging right at key resistance; the zone halfway in between the close and open of the large orange candle there. Fibonacci followers could consider that a 50% retrace zone. The week of 9-14-15 failed at that zone.