Looks like the .618 to .65 trend extension is coming in at 13500 to 13750. If it hits a more shallow .50 fib it could only retrace to 15000. I expect this distribution to continue until the spring where we eventually find a fair value and continue up. It will be interesting to see how fast this process takes place. It would not surprise me if we got a fast bottom and continued up. Time will tell.