Fabulous Fibbies

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I’ve been confining my Fib-talk to premium-land lately, but I think I’ll open it up, since I don’t have a heck of a lot else left to say. As of this moment, the /ES has done a fascinating job of traversing from one Fibonacci level to the next. It’s actually pretty damned amazing.


The thing is that ever since this bear market started, the /ES has had a slavish affection for these levels. I’ve highlighted some of the more impression examples below. Of course, prices don’t turn on a dime, but these “zones” are, I believe, quite important.


It is also worth noting, considering the impressive strength of the counter-trend rally we’ve seen since last Thursday, that an “escape” from the present zone would allow the /ES to set its sites on the next level higher, which is around 4455.