Just Believe - Fibonacci.... Extension 127.2 on weekly....

SP:SPX   S&P 500 Index
604 4 6
Fib 0 placed at 0 - of the SP500            

Fib 1 placed at 1,561.8 the highest closing price on weekly basis

Fib 127.2 reached so far 1 handle short at 1985,59

If not here for a correction then ....when? Next will be the 138.2 fib

Safe trading ladies & gents!

Music at work:
Nothing much to add.. going as planned
I love your idea very much. And you're correct, WHEN (sigh)? But wouldn't a reversal happen quickly and not really "allow" for most traders to see what's coming; in other words, it would maybe hit the 272 hard giving the idea that people have to panic buy and then bounce downward, OR hit the 272 inconspicuously (i.e. overnight, NFP, etc.) and gap/jump downward making most traders miss (or feel they've missed) the trade? TIA
WallStScalper Greenstream
Thank you for your comment. So fare the all time high hasn't been taken out for over 2 weeks now so maybe SP is finally in for the drop - if it's the top of a C wave.
It might also only be a correction if SP is in a 3rd wave top. But we soon need to see some downward movement or SP will continue higher. This 15 min ES with fib does though look like a bull flag: http://gyazo.com/ab8706332810ae8e16834735395c725f .... well time will tell. Greetings @BLawrenceM
If fib 1 is placed at 1,576.09 instead - 127.2 will be reached at 2004,79
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