Knock, Knock….Who’s there?  Uncle Fibonacci!    No JOKE !!!

On 4/13 I shared it was time to “BE PREPARED” (see post here).   The patterns and Fibonacci resistance suggested to protect and be PREPARED TO HARVEST.  The market peaked 10 days later (4/23) after gaining less than 3% more.  Uncle Fibonacci is knocking at the price door again!

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All of these markets created a rising wedge, which came to an end at their respective 61% Fibonacci retracement levels, back in April.  Now each of these indexes are within 1-5% of the key Fib levels again!  I take Fibonacci resistance very serious, even more so when the Dollar appears to be testing support, with  3% Dollar bulls.

 Harvest right now?  I WOULDN’T RIGHT NOW!   I would encourage investors though to keep a comfortable stop in place.  Some are more comfortable with a 3% stop, some in the 5% range.  What is the right trailing stop?  I don’t know!  JUST HAVE ONE, because of who is knocking at the price door!!!