testing fib 61.8 retracement at 6000 ..., page-57

I made a similar call on the *HC DJIA chart thread* before the recent rebound in the US. I believe we are going through some base building atm on the SPX.

Pull backs will be used to flush out any straggling Bulls before the index moves higher, factoring in the 50 basis pt interest rate cut and then getting it. Hence, the pre-emptive move in the financial sector.