Index Update

bring on the Fibonacci sequence

First thing's first: if you believe you are owed a copy of my book Joy of Charting (and you live in the United States.......) please email me to tell me the shipping address! A bunch of folks haven't done this, and I certainly want you to get your book!

I spent a part of my Saturday cleaning up and updating my index charts (because what else would I do with myself?) and I wanted to share some of these with you. I was very focused on deleting a bunch of trendlines that had long ago served their purpose and replacing them instead with Fibonaccis to give us a bit more of a not-just-a-guess idea where this bounce might be.

The grinding fear I've had in my head is that, even with 36% cash, I shouldn't be nearly this short, was affirmed by my examination. I mean, yeah, yeah, yeah, I can offer my standard excuse that my options don't expire for many months, so what difference does a few more days of bounce make, but I'm kind of hard on myself about optimizing entries and exits, and the simple fact is that we might only be one-third done with this bounce! So, I might be taking some lumps Monday (after a very lumpy Friday). If we start to sell off, I'll count myself lucky, because that'll give me a chance to lighten up without the pain.