ES Daily: Beautiful chart! Huge sell off so far today. Looking back at a post from a little over a week ago, the 1.618 level held nicely. We also see the 0.618 matches up well with the past swing low. Is this a start of a new trend or merely a pullback to go higher. I'm going to look at the speed in which this sell off happens to give some signs.
ES 120 min: Also, Looking at the intra day movement (as of this writing), today's low worked out perfectly to the 1.272 fib projection, as shown below.
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