Macro Bull -but what if Bear?
I pulled a fib from swing low to high for the whole chart - consider this a global fib (in white). Then I pulled a local fib from our April '21 high to the June low. If we had a pull back and only found support at a fib level (I say only because many other levels could offer support - see monthly levels marked in purple horizontals as an example) - we could find it at the local .618 $51406. A bounce off that maintains much more bullish sentiment then falling down to the green box that encompasses our local and global .382 fibs. If we lose those levels I'd be biased bearish - especially if we retest and reject them - I'd be macro bearish if that happened. But if we bounced there then still macro bullish.
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