SPX Weekly Chart Fibonacci Retracements from March 2009 Bottom

Here is a look at the two year plus rally off the March 2009 bottom. Look at how the Fib retracements coincide with horizontal support quite nicely; 1100, 1025 and 950. Note how the red lines show the market top with negative divergence that was projected as it occurred.

Note the thin green lines now, the indicators maintaining a negative profile except for the stochastics and histogram showing positive divergence. This positive divergence will create the snap back rally today or early next week, but, since the overall posture remains negative, the weakness in the markets will continue along for weeks and months--or until QE3 is annnounced probably 9/20/11 or later. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.