The Dow 30 pegged its 61.8% retracement today, as shown below. The area from 11,250 to 11,750 is also absolutely clogged with overhead supply from the summer of 2008, suggesting increased difficulty climbing from here.
I will hasten to add here, though, that Fibonacci levels haven't exactly been stone walls of late. Indeed, many indices have not along trampled across these lines, but made a rude gesture while doing so. Therefore, it's worth casually noting that we're at this level, but I wouldn't kneel down in reverence toward this fact, given the state of things.
