Monday, December 19, 2011

SPDR Financials Approaching a Decision Point

SPDR Financial 
The Chart below is based upon the 'root' AB. 
  • The triangle ABC contained price except for the brief violation at the November low where prices found support at the vesica piscis. 
  • Prices rallied to resistance at the BC squaring vector. This is coincident with the intersection of the two circles in early December
  • Prices recently broke below the base of the triangle AC.
  • As XLF approaches  point C a resolution to the intermediate trend should occur.
  • The inevitable break of the circle this week will determine the trend.  

2 comments:

scotty said...

Very Cool Stuff Fibocycle or should that be
FiboCircle ?

Best
Scotty

Fibocycle said...

perhaps FiboElipse