SP; What do you think?
Given the larger context of a rally structured in abcx's with ever decreasing volume, out of this world bullish sentiment at the highs, and the impulse wave nature of the down move, prefer 3 or maybe -1- of 3.
New lows on the day will help answer the question.
BTW, the SP Dec high @ 1075.75 is 1.616 of 666, the low. The cash SP high was 1080, exactly 1.62 of 666.
I mention this in Strange Attractor for the SP @ 1076.50
published on Sep 17.
"I don't know of any Elliott rational for a fibonacci advance / pullback of an a outright number, but that has been showing up lately in various markets. For instance WTI had a .78 gross pullback at 32.40 from 147.30, and the NG had a gross .85 pullback from 15.78 high at 2.40.
Whatever works probably works because it's a very simple algorithm . It was after all a move driven by HFT and prop programs.