Monday, April 1, 2013

Fibonacci Ticks 233-6765 TTM

The markets opened above William's Alligator and accelerated to new highs. Strong selling was initiated at the new high and took prices down very quickly. There was a brief retest at a 38.2% retracement, that failed and took prices lower. Midday the intermediate Tick charts were able to clear the Alligator's Jaw and climb towards the gap. This was met with further resistance that took prices back down to the lows of the day.