Blake Morrow’s EDGE Chart of The Day – SPX
Blake Morrow’s EDGE Chart of The Day – SPX
SPX Approaching Key Resistance
We have been targeting the 261% extension in the SPX for weeks in the S&P500. That target is quickly approaching, with the level now within 50 points of that level. Even though most of us traders use different instruments to trade the S&P, measure the 261% Fibonacci extension of the June 11th high to June 23rd low and you should come to the same conclusion. Daily RSI is divergent as price makes new highs which is a clue that we are nearing a tradable near term high in the market.
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