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Let me start off by saying something crystal clear: not flipping from totally bearish to totally bullish on May 20th was the biggest mistake of the past twelve months (probably twenty-four months). I mean, it was right there in front of me: these Fibonacci retracements are not new information. They’re well established. But I got greedy and I decided to wait for more profits, and then BLAMMO, here we are. It’s a damned shame.
Wow, what a day!
Allow me to start by sharing with you a tweet I sent out about thirty hours ago:
If you want to see how meandering, directionless, and trendless this calendar year has been thus far, I present to you the percentage charts YTD of a variety of major indexes. Pretty sad stuff, folks!
I’ve seen in mentioned that Q1 2022 was the same as Q1 2020 – – that is, a hard, fast selloff followed by a V-shaped recovery. Well, yes, I can certainly see the similarities. But I do want to point out one key difference by way of layered charts:
