Will You Wait for the 78.6% Fibo?

I made a wrong call last 22 June. I mistakenly thought that the index would return to its price prior to March 2020 fall due to COVID-19 panic. I was thinking of holding ALI, DNL, and DMC until December. But when I saw the index price action last 13 July, I changed my mind. I immediately disposed all the index stocks that I was holding except for two stocks.

  

Now that I think fear has already tempered much of the bullish sentiment for the past 7 to 8 trading days, I am now waiting for the index to find its low. Once it establishes its low and starts to resume its 25 May rally, I think I will just focus on $DNL. Though this stock is not an index member, its price action usually moves with it. I will just wait if the index will respect its 61.8% Fibonacci @ 6,455 or will it drop deeper to 78.6% @ 6,288?