It was a busy day for the old Tim-ster. This is a scroll through SOME of my orders in ONE of my accounts. When I said I was busy, someone in the comments section guessed “he’s taking profits”. Nope. I was ADDING to positions.
Watching the market close was hilarious, because it is oh-so-obvious that Jerome is frantically and desperately defending this level of support. I drew these retracements eons ago, and voila, here we are. Jerome isn’t the chartist that I am, but he at least has enough sense to know that if when this level is breached, all holy hell is going to break loose.
You see, this is not a calculated retracement. It’s an anchor point. In other words, one of the two anchor points constituting the Fibonacci sequence for this year. Let’s just say, breaking the late January low will make things interesting in a mighty big hurry.
Allow me to empty the blood from your veins with this terror.
The shame of it, of course, is that it can’t be this way forever.
