Friends, I hope your having a wonderful day. Wanted to share a couple of thoughts with the Legacy markets today. And they are important to consider. We have a lot of confluence amongst the Fib extensions. Either we have already topped at the 1.618 Fib extension from the Pre Covid crash high, or we make a marginal NEW ATH that would break over $39K. That level is SIGNIFICANT as it is the Full 4.236 Fib extension from the Great Financial Crisis Top. Regardless of the exact stopping point for this Bull, it is my humble opinion we are in the late stages of this Bull before an EPIC crash. It is one reason I remain quite cautious as we approach the new year. Perhaps we get a Santa rally, or perhaps we don't. I am 100% out of stocks regardless. The meat of the move has been made. Now we await the Bear to come out from Hibernation. I hear they are rather hungry when they wake up.
That is all for now. :)
That is all for now. :)
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After nailing this top within 1%, I am now telling you that is the Fed Pivots (and I believe they do) that THE TOP will actually exceed our prior ATH and we will start to look at the Fib extensions as our next blowoff top that will mark the END OF IT ALL!
JT