Is this the start of a correction? As could be seen from the chart the the price action in the last two days hes been outside of the trending channel. So, there is a strong possibility the correction is on, and the first down target is at 25% Fib or 5815. There is also 1.6 Fib extension from the 16th Jan at 5826. Therefore, there is 5815 to 5826 range support for this first move.

ASX200_060315

On Friday though, the S&P 500 reached 38.2% Fib retrenchment at 2067 which potentially could be a low.

S&P500_060315