If you zoom out on the S & P 500, the measured moves and fibs line up fairly perfectly and in my opinion paints a more realistic picture as far as expectations for the market moving forward. It is hard for me to see this market going market going all that much higher at all. With blow off top type price action in names like NVDA and the recent price action in AAPL, this type of price action makes the most sense to me.
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