We trade price and time so why not try to apply the Fibonacci numbers on both?
Believe me, when I heard of this the first time I thought the guy was full of it but since then I have seen it applied and major tops and bottoms called using this exact Fibonacci analysis so bare with me. We start by picking out a high or a low and then count the trading days to see whether the index peaks or bottoms out on any of the Fibonacci numbers.
I said last week that the 35 point move up on March 1 looks like an exhaustion move that marked an end to the Trump Trade. It was only this morning that I saw that the last swing high fit perfectly with the Fibonacci sequence. The next number that could mark a low or a high is 144 which falls on May 19, a Friday. That means something might happen over the weekend to turn sentiment. Anything happening over the weekend is typically negative for the markets and perhaps the old saying, "Sell in May and walk away" will hold true for 2017.