This is a normal reaction after a 'surprise' spike move. I placed my Fibonacci levels on that bounce and the market was then testing the Fibonacci 62% level. If I had my Elliott wave labels ...

Investopedia / Yurle Villegas The Fibonacci sequence is a series of numbers where each successive number is equal to the sum of the two numbers that precede it. The Fibonacci sequence is one of ...

Charles Schwab, "Using Fibonacci Levels on thinkorswim" E. Ponsi. "Technical Analysis and Chart Interpretations: A Comprehensive Guide to Understanding Established Trading Tactics," Chapter 15.