Critical Fibonacci Levels At Play
Tim Knight | Jun 14, 2022 11:02AM ET
This market is even weaker than I imagined. As I said in my last post, my brief fling with bullishness was quickly dispatched, and I’m pure bear once more, with 80% committed to positions and 20% in cash, which I think I’ll leave as is until after the FOMC. Please take note of these vitally important Fibonacci levels!
For the S&P 500 futures, support has changed to resistance.
For the Nasdaq 100 futures, after it broke its Fibonacci, it never even looked back.
The last holdout is the Russell 2000 Futures, which is still respecting support.
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