As the markets continue their upward momentum, we can now start looking back to some levels last seen before the market crash in October 2008. The SPY daily chart below shows a potential path to $120. The question is, will we see a significant correction before that?
Potential levels for a correction:
$114.81 marks a 61.8% Fibonacci retracement from 5/19/08
$116.50-117.20 marks additional resistance.
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