Recent Fibonacci Levels Proved Accurate Again in Identifying Key Reversal Price Levels

The S&P 500 went south and we cashed in our chips

It happened again, Fibonacci levels proved accurate again in determining key reversal price levels.

For some time now we have been concerned about the lack of upside momentum and the divergences that have been building in many key oscillators. We were also concerned that we'd reached a very important Fibonacci level which we pointed out in a recent video.

It never ceases to amaze me how these levels have worked both in the past and in the present. If you're serious about the markets, you must pay attention to these key levels as many professional traders do, and perhaps you will understand why.

In today's short video, we're looking at the S&P 500 and some of the downside targets we have scoped out using a very simple tool. We had a nice run on the upside based on our "Trade Triangle" technology and we are happy to cash in our chips and watch from the sidelines for the time being.

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I hope you'll find the video informative and leave your comment on our Free Trader's Blog.

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub.com

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