5200 = .382 of the move from 5342 to 5112
There is additional Fibonacci resistance at 5200 which is the end of wave (iv) Horizontal Triangle.
If IXIC can rally it may be complete on 11/2/16 probably after the FOMC announcement.
If the decline continues, minimum target is the June 27th Brexit bottom
Maximum downside target is February bottom.
Minimum time target 11/9/16