By now everyone should be aware of the 38.2% { 769.50},50%{ 749.90) and 61.8%{ 730.29} fib retrace targets that Matt and Steve have been kindly posting, not to mention the bottom of the gap at 768.55.

If 832.98 was the top of an A wave up and this decline since is the counterpoint B wave down, then I would expect that decline would bottom anywhere in the 50%-78.6% area. 78.6% could target an almost unbelievable 702.35. As Matt and Steve are good to remind us, lets be alert and see what the market does.

My previous post meant to say let me toot the FIB horn because that one call was just another fib point amongst many. I like to go crazy figuring the different potential fibs. Or as my friend would say, zooming in too closely. Besides, I am just trying to be like the rest of you who post even better stuff all the time.                x

tip: consider option combinations like spreads and straddles in case your timing is off. Many people look for home runs and that's how they lose $$

possibly the 50% to 62% retrace.  If the H&S pattern plays out on the SPX, RUT and other indexes, it meaures down to about the 62% Fib retrace