Below 50-week moving average now testing the 23.6% fib retrace at 96.51 … we are 16 points away from point of arrival. I expect a “dead cat bounce” from here before resuming its course for a rendezvous with the key 38.2% fib level which meets a) the trend line
of the secondary tops since November, 2015 (blue dotted line), b) the bottom trend line
of the 3 previous lows (red dotted line) & c) the trend line
since April, 2011 (thick black dotted line) … and no target ever misses Fibonacci’s 38.2 calibre Beretta. Breaching the trend line
since May, 2011 (black dotted line) was the slip.