Looking vulnerable here. Credit to Chris Kimble on Twitter. The first chart is my version of one he has posted. The second chart is all me 🙂

Using the recent high as the ‘1’ Fib Level and the 2009 low as ‘zero’, gives numerous hits at all the resulting Fib retracement levels. Interestingly one set of support and resistance lines reaches an apex at the 0.786 Fib level early next year. Worth keeping an eye on. Markets have been relentless in their move upwards, so a blast upwards, negating all of this wouldn’t shock me too much. If I were in the market, I’d be very cautious here though. A much bigger drop of 50% or so is not entirely impossible.