2013/12/24 - S&P 500 almost at 1.27 fib extension

CME:ES1!   None
195 1 3
The S&P500             is almost at its 1.27 fib extension (2007-2009).
This value on the ES is 1839. This mean another 0.6% increase before reaching this point.
I added an indicator to show the deviation from the 55EMA. This deviation is very big.
I think it is unlikely not to see any good correction in January.
Excellent chart! Good catch there on the fib extension.
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