Did we reach a top....

Following up on some weekly chart that I had drawn earlier, it seems that we have hit a major resistance point both in SPY and IWM. The chart below show Fibonacci extensions using the lows of April 2009 and the retracement of April 2010 as bases. Right now, both IWM and SPY sit right below the 61.8% extension. Many books identify that line as the most important Fibonacci level. Breaking through would be bullish. If not, this might be a temporary top.


DIA is lagging, but not far behind....


SPY

IWM

DIA