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It's Friday, and right on schedule Chris Kimble assumes his Dragnet persona.
My May 13th chart of the Baltic Dry Index showed what looked like a "head and shoulders" top after hitting its 38% Fibonacci retracement level.
The "Power of the Pattern" truly came to light here, as the Baltic is down over 40 days in a row, slicing off OVER 50% of its value.
Any wonder why the occasional Head & Shoulders pattern might warrant some respect?
Now it looks as though the index is "sinking" below its neckline.
Was that the Titanic photo on the prior posts?
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