S&P 500 has hit a huge fibonacci level to go down lower. Coincidentally the other 3 major US indexes have hit a high to low 50 as well. The Nasdaq, Dow Jones, and Russel have also hit this level. There is a good chance this continues to the downside. In order for the markets to be bullish again the indexes would need to break above the 61.8 (red line) with strong momentum. TO SEE THE OTHER FIB SETUPS ON THE INDEXES GO TO @DANTHETRADEMAN ON TWITTER. ALL FOUR INDEXES ARE DRAWN WITH THE FIB. twitter.com/danthetr.../1011675143452741632