I may be deranged, but when the GY PA is as well, and TA isn't working as it traditionally has, I try to get imaginative. I won't repeat some of the reasons I'm leaning towards more upside, but GY just doesn't look like it's prepping to go back to 132/118 just yet.
We know the left side fib from 163 to 132 is spot on, and received much respect during it's consolidation & distribution phases from the 23.6% to 61.8% range. We could similarly be in a consolidation phase now - that's the predictive fib on the right hand side of the chart, along with an estimate for a visit to 151/153 by quarter end. The 141/2 zone seems major support to me, and seems to have trajectory powers to launch GY 700/800 pips. One can play with the upper end of the predictive fib, and even decreasing the top end from 153 to 149 makes for a great fit against already accomplished PA.
Combined with the pre-election optimism, prowess of equity indexes, GJ reaching another 400 pips (149) or 800 pips (153), esp. when 132 was 1100/1300 pips ago, makes for a believable fib placement.
We know the left side fib from 163 to 132 is spot on, and received much respect during it's consolidation & distribution phases from the 23.6% to 61.8% range. We could similarly be in a consolidation phase now - that's the predictive fib on the right hand side of the chart, along with an estimate for a visit to 151/153 by quarter end. The 141/2 zone seems major support to me, and seems to have trajectory powers to launch GY 700/800 pips. One can play with the upper end of the predictive fib, and even decreasing the top end from 153 to 149 makes for a great fit against already accomplished PA.
Combined with the pre-election optimism, prowess of equity indexes, GJ reaching another 400 pips (149) or 800 pips (153), esp. when 132 was 1100/1300 pips ago, makes for a believable fib placement.