Gets a bit confusing if you are meaning we have just tagged the 61.8 level at 8945 cause...
if you pop a fib retracement on the fall from 9220 to 8860 then we also get the 61.8 level at 9080 which we already tagged.
Could it be we keep recoiling the 61.8 til price breaks out ? i donna know
For me, I'm still a bear from here, given the move down from 9220 looked so much more like a five wave impetus, and the retrace to the 9080 level was a clean ABC with A = C.
Also while we are on the election, if Labor wins with the greens having the balance in the senate, overseas investors will freak pulling out some funds. Though I imagine the real catalyst will be a pull back in the US equities and a rally to the 'safe' USD.
