Howabout this potential butterfly as a predictive tool to look for a turnaround in the S+P at 1815, perhaps precipitated when we finally get some tapering
Shown on a monthly chart the fib extension is 1815 being 127% of the XA leg (I chopped it off in the screen grab sorry).
Attachment 4838
But we now have a D leg heading to the 127% fib and within the definition of the butterfly it can go anywhere between 127 and 161% so need to wait for further signals yet. Just waiting in the wings as Arco would have said.
butterfly.jpg
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