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The Market Trader Tao
NeboXian's Day trading journal
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Wednesday, November 18, 2009

Push for The Fib 50

The final assault!
Push for the fib 50 is underway....

Spx 1120-50 long term trend zone is the target this week. This will give us a spike shooting star candle

I must say this will be swift so don't fall in love with any direction.....take profit quickly.

I f the price holds and we get a open and close day above 1121 next week then the market moves higher....

or

price touch the fib 50 and reverses back to lower fib fan line.......notice how price has responded to the fib fan lines..

My Spy plan today is to buy down to spy 110.85 the opening gap and ride the run up until it stops going up 111.70 up to 113.85... .

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