There is a tight cluster of three Fibonacci points in the SPX 2119 -2120 area.
1) .236 retrace of the move 2193 to 2097 = 2120.50
2) .382 retrace of the move 2154 to 2097 = 2119.60
3) .618 retrace of the move 2133 to 2097 = 2119.80
This 2119 - 2120 zone is also prior support.
FOMC announcement is at 2 PM ET on 11/2/16 if SPX rallies into 2119 - 2120 during that time it could be a great area to short.
Mark
1) .236 retrace of the move 2193 to 2097 = 2120.50
2) .382 retrace of the move 2154 to 2097 = 2119.60
3) .618 retrace of the move 2133 to 2097 = 2119.80
This 2119 - 2120 zone is also prior support.
FOMC announcement is at 2 PM ET on 11/2/16 if SPX rallies into 2119 - 2120 during that time it could be a great area to short.
Mark