Back in May, when the RSI
dropped to 23, it looked as though that would have been a good time to go long. The market did rally for several days but then rolled over. The next time the market came down, the RSI
did not drop as low and set up positive divergence. We may have to wait on something similar before this decline ends.
Fib confluence/support zones are as follows:
1370 to 1363, now busted.
1346 to 1335
1319 to 1311
As each of these zones is blown through then it is likely the next zone will also succumb.