A tip o’ the paw to premium member pduncanj, who was kind enough to point out something to us that I hadn’t realized: today’s SPY peak matched with astonishing perfection the Fibonacci retracement (78.6%) going all the way back to the Halloween bottom. Here’s the daily chart:
And here is the minute bar chart. If this holds, it’s going for us to gather together and form some kind of shrine to Leonardo Pisano Bigollo:
For perspective, here is a longer-term chart of the SPY, showing the Fibonacci sequence within SlopeCharts.
