Mr. Fibonacci says we are approaching initial levels of resistance for each of these indices at around a 38.2% retracement of the first leg down. Note how IWM is lagging, even here. If prices blow through 38.2%, then 50% comes into view. New trends never go straight up or straight down, they do this: Nasdaq 100 S&P 500 Russell 2000 (IWM)
