Fibonacci continues to be a “strong force and has a key relationship” to the 500 index.  Below is a big-picture and a close up of the current action over the past couple of weeks. 

 

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Suggested earlier to pick up SH with a stop 1% above the resistance at (1).  Not a Bull nor a Bear, just testing to see how strong falling resistance really is!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past