All three major market indices are showing the same pattern, a deep dive followed by a Fibonacci retracement. The only differences are the extent of the Fib retracements, between 38.2% and 61.8%. The next few days will be critical for the intermediate term market direction. There is little room to the upside before the bearish case becomes less tenable. On the other hand, a new leg down has serious downside potential. DJIA IWM QQQ Keep an eye on the website for special real time Alerts in the event of sharp moves in either direction.
