S&P Targets

Last week we described what was at the time the potential for a small double top providing a targeted break to approximately 95500 in the S&P 500. The target was not reached as the low of the sell-off was only ~97850 in the cash S&P.


Today new highs have been made. What we wanted to show here using the weekly chart of the cash S&P 500 is the next potential target price levels basis the Fibonacci extensions. Those levels are ~104550 for the .618 extension target and ~ 108370 for the .750 extension target.

Also we wanted to show the key Fibonacci retracement levels from the October 2007 high to the March 2009 low. Those key retracement levels are ~ 112000 for the .500 (half way back) and ~ 122500 for the .618 retracement.

If you believe this type of information as well as how to implement it in a trading plan can be of benefit to you please contact us.

jmajer@mfglobal.com
800 321-5810
312 261-7380

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