The MORNING FIBOCALL for 2/26/20
FIBOCALL: The MORNING FIBOCALL for 2/26/20
DAY 3 of our 3 day rule
Watch the LT oversold ones for a bounce to come in the days to come
SPX-cash (Long term view)
The 2/19 high @ 3393.52 is above
A 8% pullback from the 2/19 high , with over 6% in the last 2 days.
The 12/3/19 low @ 3070.33 with the 200 DMA @ 3044.57 below as next support
LT oversold signal is in place
S&P futures: (Very short term view )
The 2/20 high @ 3397.50 is above
The overnight range is 3158.50-3091 range
The 12/3/19 low @ 3071 with the 200 DMA @ 3049.50 below as next support
LT oversold signal is in place
IWM
Closed below the 200 DMA @ 156.67 BUT
Inside our LT bounce zone @ 157.74-154.72
I would BUY and use a close below 154.72 to a very short term exit
LT oversold is in place
CRUDE
I would BUY some with a close above the 20 DMA @ 51.30
Our LT .764 level @ 48.08 with the 12/24/2018 low @ 42.36 as further support
No LT signal here at this time
XLF
The 200 DMA @ 28.63 is below as next support
Can nibble with 200 DMA holding
LT oversold is in place
QQQ
Ticked inside our LT bounce zone @ 215.63-210.47 yesterday
I would start to nibble with 210.47 holding
No LT signal here at this time
10 year note yields
The long term downtrend continues
The falling 20 DMA @ 1.545 is above
Our overshoot level @ 1.344 is below
LT oversold is in place
IBB
The 2/19 high @ 123.92 is above
CLOSED just below our bounce zone @ 118.28-116.94
100 DMA @ 114.86 and the 1/31 low @ 112.64 are below
No LT signal here at this time
BITCOIN:
Our long term selling zone @ 10144-11020 is above
Closed below the 20 DMA @ 9720
200 DMA @ 9120 is being tested now
The 50 DMA @ 8675
Our LT bounce zone @ 8469-7989
No LT signal here at this time