So the dip in equities has turned out to be pretty serious. SP500 has fallen below major resistances, nearing support. Plotted are two fibs, one of wave up and one of wave down.
The confluence of those fib ratios are the key levels to watch. I know that is a LOT of lines, but each one will react, just watch. Gold 2.618 at 3182 is the KEY level, below which is very bearish.
See the "Related Ideas" below for an explanation of my methodology. Watch the reactions at the plotted zones for proof of the efficacy. Follow this Idea to be notified of the frequent updates as I post them.
my Analysis: