I'm drawing this fan line projection based on the 100% extension level on the day there was a bounce off the 61.8 extension/retracement line. It's incredibly unorthodox, and no chartist I know of would take any heed in this fan drawing. But this is one of those things I would look at, and not post about. I've found that during hugely bullish runs, this fib ratio usually ends up the support off the 38.2 fan. I don't want to defend my theory, because I don't have empirical data to support it. However, I will be glued to my seat tomorrow watching to see if the PPS closes in the pinch between this 38.2% line and the 161.8% extension line (teal). If it does indeed do that, I fully expect a legendary green day on Monday because of the pinch created there. I can't wait to see what happens tomorrow.
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