S&P 500 Stock Index (SPY) Hourly Trends . . .
In response to an inquiry from a reader about how the 'Fibonacci Trends' Technique works in the Stock Market, I've created a hypothetical chart for the S&P 500 as represented by the SPY ETF/Stock in the chart below.
SPY is consistently one of the highest volume trading vehicles on U.S. exchanges. Average volume is typically over 80 million shares, although that does fluctuate over time. For many day traders, it's the only ETF/stock they trade. Many investors and hedge funds use SPY because it represents the S&P 500 index—a basket of 500 major U.S. companies.
Performance figures contained herein are hypothetical, unaudited and prepared by WDGann-Lost-Secrets.com; hypothetical results are intended for illustrative purposes only. Past performance is not indicative of future results, which may vary. There is a risk of substantial loss associated with trading stocks, commodities, futures, options and other financial instruments. Full disclosures here. Full Disclosure.
For this chart, I used a shorter one-hour bar level of analysis in order to capture significant price movements in a shorter time-frame than the Daily price bar level. The moves shown have lasted for days in length and were not intra-day trading opportunities. Those would be many more in number and, of course, of shorter duration. - GR Harrison