An interesting Fibonacci occurrence is observed across several global indices. As can be seen on the charts of NSE Nifty (India), DAX (germany) and US2000 (US small cap index), the rise since the GFC bottom (made in 2008) is either 1.618 or 2.618 times the rise that occurred since the bottom made in 2002-03 till 2007 top. This may indicate that the ongoing correction is wave 4 and upon completion of this correction the global equities may have one more major leg up to complete wave 5.
