downward trend bouncing off second fib line
Updated
Red is range, fib tool used in the latest swing in aug, currently spy is bouncing off and holding around the second fib line once it hits first fib line of 405 then watch for the break upwards. if it continues to hold at second fib line it will test 3 fin line again at 390, if it breaks 390.
Note
Patterns are similar set up to aug 26 which had high stoch of 99+, tsi peaked above 0 then immediate dropback into neg. If continues upward it will test . 38 fib line range of 405-415, but if breaks it will test 411-415, which is .236 range in the fib tool in May or Blue support/resistance line. it tested .618 with support and holding, the .5 line is where we wait to see direction.
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