Over the last day or so the S&P has broken below the March trading channel support. I have seen the same in the NASDAQ a few days ago. This would lead me to believe that a correction in the S&P is on tap in the next week or so.
@amg1ne, I actually deleted a bunch believe it or not ;) Adding both Fib levels and trend lines makes a mess. It starts out so clean and simple and as you slowly start doing analysis the lines just pile up. A bit over the top, I know.
The core of the issue is that there are trend lines and fib levels from different time frames on the same plot. I wish I could handle that better.