The Long Investor

$TLT - SAFE HAVEN -

Added 2024-09-23 22:11:41 +0000 UTC

We are seeing a pull back here after a run up to the 2.618 Fib for Wave 5, which would be the standard extension for Wave 5 without any extended runs of euphoria

Pull back has gone below the yellow line too and there is a trend to the 50 Day MA now

So I have added in the Green Fib support levels to show where an ABC pull back can finish....we can see that the 200 Day MA is aligning with the 0.5 Fib now at $94.50, so this will be our first area of interest.

We can also see that the blue line at $91 and the 0.618 Fib at $92 is a strong support level that has been used since last November as support.

So any hold between now and $91 is what we want to see.....and I will certainly be adding to my Bonds position, as I only have 1 buy in so far, which I added as a hedge incase the market took a severe turn as soon as the Fed announced their Rate Cut, this has not surfaced yet.