Cannon Trading / E-Futures.com
Big push up today on stocks but less than average volume.
Daily chart below of the mini SP 500 shows that 1310.50 is the 76.4% FIB retractment level, which I have noticed many times to be the pivot of corrections. So price action around this level will be important to watch. A break below 1297 may suggest that this bounce is just a bounce….Futures will tell…..and in our business the future is some times measures in hours, minutes even seconds…. Continue reading “Futures Trading Levels, The FIB Retractment Level is the Pivot of Corrections”