Ain’t if Funny How those Fibonacci Numbers Fly?

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As always, no matter the move and its size, the Fibonacci numbers seem to give us a map of the future.  (Hat tip to Charles Kirk.)

ImageNote:

1. The 38.2% replacement roughly corresponds with the previous all-time high in the RUT.

2. To go to the 50% retracement level would fill a bothersome gap from 12/31 to 1/1/2013.

But such a move would wipe out the gains for the year for long-only funds. Can’t we expect the bulls to defend? How about the Fed? Will words from the Chairman on 2-26-2013 propel a reversal attempt if not a success?

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