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Overlayed on each of the following two monthly charts of the S&P 500 Index (SPX) is a Fibonacci Speed Resistance Fan.
The first one is taken from the low of March 2009 to the high of May 2015, which preceded the last major pullback to first fanline support and prior to the recent minor one this past February. Based on this fan trajectory, the first major resistance level sits just above the last all-time high (of 2872.87) at 2900.
Yes, it’s another major improvement for SlopeCharts, and it’s live and ready to use by everyone.
SlopeCharts gives you the ability to create a chart of any currency compared to any other currency. This is far more flexible than most other systems, which limit you to a handful of popular foreign exchange rates. With SlopeCharts, you simply choose whichever two currencies you want from 156 different choices, which means that tens of thousands of different charts are possible.
Using this function is quick and easy. First, choose the Currency Converter from the menu:
The liftoff from the inverted head and shoulders of Bitcoin has clearly exhausted itself, and the entire up-move is now gone. At this point, $7000 is the line in the hand. Cross below it, and you can look for more stumbling and fumbling toward a sub-$6000 breakdown. Hold that line, and there’s a real chance at a more meaningful rally.
Commodities have, in fits and starts, been slipping lower in recent months, and on occasion they provide a gap down to make them easier to mark.
