Fibonacci Extensions & Fractal Relationships

Anchoring a Fibonacci retracement from the open to the high, the price action took us down to the 38.2% extension the next day and looking back to the premarket low which hasn't been touched yet, it is by no coincidence the 61.8% extension. Today we tested the 78.6% Retracement and broke above it on low volume which was followed by new selling initiation that has taken price all the way back under 1550. It is relatively easy to see the fractal relationships of Fibonacci numerology simply with the placement of these two retracements. For instance, notice the .618 of the wave down lines up with the .382 of the intraday move up. It is also of note that the playground highlighted by the Monkey Bars study for the past five trading days lines up with the 38.2% extension to the top and the 78.6% retracement to the bottom.