Forex Investment and Currency Trading

S&P 500: Is this index ready to go on and make a new low?

1. The high on September 19th was the 76.4% Fibonacci retracement of the last aggressive fall that
   preceded it (from September 2nd). The market went on to make a new low for the trend.
2. The high on January 6th was the 76.4% Fibonacci retracement of the last aggressive fall that
   preceded it (from November 4th). The market went on to make a new low for the trend.
3. The high this week was the 76.4% Fibonacci retracement of the last aggressive fall that started on February 9th. In addition we see the high at the channel top. Is this market setup to make a new low?

A rally through 875 will mean that we are wrong with this analysis at least in the short term. For now…Watch it