SPX S&P 500 2-Hour Chart; Fibonacci Retracements

Here is a look at the 2-hour SPX chart with the blue lines showing the Fibonacci retracements for the move lower from 2491 down to 2437. Price popped through the 38% Fib at 2457 at the opening bell and now pokes around exactly at the 50% Fibonacci retracement at 2463-2464. If price moves higher from here it will seek the 62% Fib at 2470.

Price violated the lower standard deviation band so a bounce was on tap to the middle band at 2463. Bingo, the SPX taps the middle band. Watch this 50% Fib level at 2463-2464 and the 200 EMA on the 60-minute at 2459-2460. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.