Fib Fan from 1932 Lows

It is hard to pick points on charts exactly when looking at 80 years of data.  So I took a few shots at pegging the 2007 top closer with my Fib Fan from 1932.   This worked much better than my previous charts.  This is for the $SPX.

I also took a look a the Dow 5000 (similar to Wilshire).  Nearly a perfect 50% retrace.  The QQQQ is at 61.8% retrace.

Puts will get very expensive when this market tanks.

It takes some serious cajones to take leveraged short positions at this time.   What if retail piles in after being afraid (greed) that they missed so much of the rally.