What does 55 on Oil, 2600 on S&P, 315 on NFLX, 181 on AAPL and 1650 on AMZN have in common: they are all KEY FIBONACCI INSTITUTIONAL SUPPORT levels. If next week in the Fibonacci Trading Room, we are not seeing a bullish rally on the S&P: the end of the year will be painful as 2600 is the life line on the S&P. This support is becoming more and more fragile and if this support is out: the market will sell off (see the image below).
Next year: the market volatility will triple and the knowledge of Price Action will be tested to the core. If markets are taking a pause during holidays and frozen in correction as price has done most of this week: this is by far the best time to learn to prepare for freefall.
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E-Mini S&P 500 Key Institutional Support
