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I wish I was good enough at music editing so I could put the phrase "waitin' on the Fed" to ZZ Tops Waitin' on the Bus. Because that's what the market is really doing. While prices have dropped we're still clearly in a Fibonacci are.
As for support levels, consider the daily chart:
My primary concern with the chart is the Fibonacci levels -- they are pretty low right now. But, a sell-off would be helpful right now in the long run.
