quantguy
Long

Ideas for Retracement Levels in S&P Futures

CME_MINI:ES2!   S&P 500 E-MINI FUTURES (CONTINUOUS: NEXT CONTRACT IN FRONT)
Although I don't think the stock bubble is anywhere close to popping, I've used a Fibonacci Fan to draw some ideas for retracement if and when it does. I've used a Fibonacci Fan because it seems to capture the stock market's meteoric rise in between the 0.618 and 0.75 levels, even on Black Monday 2015 when Chinese PMI came in catastrophically below expectations and the markets thought the world was going to end. If and when the market does correct, it will likely seek these levels again.
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