I've been looking at the weekly scale and trying to develop a framework from which to follow the S&P500 over the next year. Here is what I have:
Fib retracement from the low of March 2009 to the peak of October 2007. The May 2015 correction aligns perfectly with the 1.618 level. (I'm not the only one looking at this retracement plot.) The next major Fib level is...