Wave 2 Chop Shop

Recap & stance:
Nothing much to add today. We chopped around. Volume was light. Thus far, everything is as expected. We are tentatively labeling this as a wave '2' pullback.

Lets look at some timing here. Wave '1' lasted roughly 10-11 days. If indeed, this is wave 2 and lasts a fibonacci .38, 0.5, 0.618 ratio for an appropriate price correction,
we could see the short term bottom around March 27th or Apr 1, thereabouts. If you traded last year, April 1 was a record breaker then. If my memory serves me right, we had a mammoth rally on April 1. So seasonals are also positive. What I mean is the stars all look lined up.

I would like to add a note of caution here - fibonacci time series estimations are just a guess. FWIW, they should not be a primary reason to buy. It should only serve as a wake up call, that the time may be near.

Positions:
No trades today. Our precious metals shorts went green, so lowered the buy stops - atleast we will be assured of profits, unless ofcourse there is a big gap up.