Cycles & Fibonacci

Both time cycles and Fibonacci are aligned … targeting intermediate low(s) for the Russell (IWM), in June.
This post, released late on Monday, showed a potential reversal set-up for the IWM.
The next morning (yesterday), saw a sharp, brief move higher which quicky reversed into a sustained decline.
That decline continues during this session.
The weekly chart of IWM is below; marked up with a Fibonacci time sequence.
Russell 2000, IWM, Weekly

Week 34, identified with the back font, represents a 1 : 1, Fibonacci projection of the initial leg down.
Week 34, in the magenta font, is a 1 : 1.618 projection of the same initial move.
These are projections only (not advice, not a recommendation).
However, there’s a time cycle study available at this link.
Go to time stamp 8:27, for the Russell 2000. The method is different, but the projection is similar; heading lower into early Summer (mid to late June).
Stay Tuned
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279