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Historical S&P500 With Fibonacci

Posted by StockBuz on November 25, 2013 at 9:47am in Technicals

This demonstrates that the S&P500 is nearing the 127.2 fibonacci extension (a level for profit taking). It also demonstrates how well this index bounces off of monthly moving averages AND fibonacci levels. In face the historic fibonacci levels showed large "tails" meaning a great # of buyers were waiting there to scoop up stocks. THAT is where you should be buying stocks.......(imho)

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