I've been looking for an entry into the S&P for quite some time now. Purple box is the .382 and .618 fib retrace. Red lines are areas of confluence between the 50% retrace and support and the 61.8% retrace. I will be scaling into these positions knowing I won't be able to call the bottom and stop loss set at the 1.23 retrace (not 100% in the case of divergence and a double bottom).