Technical Analysis - SPDR S&P 500 (Stock Symbol: SPY)
SPY Fibonacci Calculator (Fibonacci Levels - Retracements and Projections)
About Fibonacci Analysis
Fibonacci analysis has a loyal group of followers and it is somewhat popular among some analysts. The main idea behind Fibonacci technical analysis lies in the statement that everything in the Universe (including stock market) moves, develops and lives in cycles and the period between these cycles could be tied by the numbers. These numbers are Fibonacci numbers: 23.6%, 38.2%, 50.0%, 61.8%, 78.6%, 123.6%, 138.2% and so on.
Fibonacci analysis followers assume, when price of a stock moves from a reversal by Fibonacci percent, mentally and emotionally, the investors are most willing to open a new trade or close (cut losses or collect profit) an existing trade. Therefore Fibonacci technical analysts consider the Fibonacci levels as possible reversal levels and he/she draws Support and Resistance lines through these levels.
The Fibonacci Support and Resistance levels are calculated from the most recent trend-reversal and the price-trend prior this reversal.
As a rule, Fibonacci analysts never relays solely on the Fibonacci Support and Resistance levels. At least, the basic analysis of the general trend should be done and analyst supposed to know whether the current reversal is a retracement from the current trend (correction within longer-term trend or bounce within longer-term down-trend).
To calculate Fibonacci Support/Resistance lines a technical analyst select two major reversal points.
As an example:
If you have a correction during up-trend, you select a beginning if this uptrend as a Point A and a reversal into correction as a point B (see image below). A-B is you main trend and B-C is the retracement (correction) from the main trend. A Fibonacci analysts expects this retracement to reverse back up at one of the Fibonacci Support levels.
As trend reverses up from a correction (see C-D trend on the image below) a Fibonacci chartist expects price go up until one of the Fibonacci Resistance level. C-D trend call Projection.
The Fibonacci calculator below is based on the quotes. If you are looking for the custom calculator of Fibonacci Levels where you may enter your own price point, please, visit our other Fibonacci Calculator.
SPY (SPDR S&P 500) reversal points used in calculations of Fibonacci Support/Resistance levels
Base A-B trend (trend from the point A to the point B) is used to calculate SPY Fibonacci Retracement for the current B-C trend (trend from the point B to the point C). The C point reflects SPY at the current moment and SPY Fibonacci Retracement Levels are Fibonacci Levels for the current SPY trend.
SPY Fibonacci Projections are based on the B-C trend with assumption that reversal will occur at the current moment. The C-D trend (trend from the point C to the point D) is a possible SPY reversal trend. SPY Fibonacci Projection Levels are Fibonacci Levels for the possible SPY reversal trend in case it will occur at the point C.
| Trend | Start Date | Start Point | End Date | End Point | Trend |
| A - B | (A) | (B) | |||
| B - C | (B) | Now | (C) | ||
| C - D | Now | (C) | In the future | D is in the future |
Fibonacci Retracements
Fibonacci Retracement shows how far the price (Point C) retraced from the reversal (Point B). In the table below you may see the closest Fibonacci Support/Resistance lines to the current price (Point C).
Up-Trend with Retracement Down
| Price | % Retracement | $ Retracement |
| 0-0.00 (B) | 0.0% | 0.00 |
| 1-0.00 | 23.6% | 0.00 |
| 2-0.00 | 38.2% | 0.00 |
| 3-0.00 | 50.0% | 0.00 |
| 4-0.00 | 61.8% | 0.00 |
| 5-0.00 | 78.6% | 0.00 |
| 6-0.00 (A) | 100.0% | 0.00 |
| 7-0.00 | 138.2% | 0.00 |
| 8-0.00 | 150.0% | 0.00 |
| 9-0.00 | 161.8% | 0.00 |
Fibonacci Projections
Fibonacci Projection is based that the assumption that a reversal occurred just now at Pont C.
Up-Trend with Retracement Down and Projection Up
| % Projection | $ Projection | (D) Target Price |
| 261.8% | 0.00 | 0.00 |
| 238.2% | 0.00 | 0.00 |
| 200.0% | 0.00 | 0.00 |
| 161.8% | 0.00 | 0.00 |
| 150.0% | 0.00 | 0.00 |
| 138.2% | 0.00 | 0.00 |
| 100.0% | 0.00 | 0.00 |
| 78.6% | 0.00 | 0.00 |
| 61.8% | 0.00 | 0.00 |
| 50.0% | 0.00 | 0.00 |
| 38.2% | 0.00 | 0.00 |
| 23.6% | 0.00 | 0.00 |
| (C) | 0.00 | 0.00 |
Fibonacci retracements and Fibonacci projections are based on the Fibonacci numbers with assumption that at these Fibonacci levels a trend is predisposed to change its direction. Thee levels are widely used in the Elliot Wave Theory.