S&P 500 Getting Close to Major Fibonacci Resistance

Today 12/27/21 the S&P 500 (SPX) made a new all-time  high and  is  nearing  a  major Fibonacci resistance level at 4889.  If within the next few trading days,  the broad target zone is reached,  it could  be one of the greatest short selling  opportunities in history!  

The daily SPX chart courtesy of Trading View illustrates the price action.

The primary Fibonacci level of 4889 is based upon the SPX rally from March 2009 to April 2010 has been discussed in several of this sites blogs.  The lower end of the leeway zone goes  to 4840. 

The ideal time window for a  top is  12/28/21 to 12/30/21.  It could be  fantastic if a top is  made on 12/30/21. More about this and details  about the Fibonacci price coordinates will be explained in a blog  later this week.   

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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