Askatec

Cardano - Updated Charting 06/02 with Bottom Target Buying Zone

Askatec Pro Updated   
COINBASE:ADAUSD   Cardano / United States Dollar
Cardano enjoys a sweet dead cat bounce before moving further down finishing wave 5 (.30-.10) before moving upward towards ATH.


Headwinds to take into consideration BEFORE investing in what they identify as risk on investments:

Jamie Dimon's Hurricane Comment: https://www.cnbc.com/2022/06/01/jamie-di... (People should take not coming from Jamie, potential significant heads up)

Latest ISM Report (May 2022) BULLISH FOWARD GROWTH: https://www.ismworld.org/supply-manageme...

April Jobless Claims in at 200K (Extremely low) : https://www.cnbc.com/video/2022/06/02/in...

Latest PPI Report (April) 11% https://www.bls.gov/news.release/ppi.nr0...

Latest CPI Report (April) 8.3% https://www.bls.gov/cpi/

DXY: Upward momentum since 07/2021 (Up 17.29% from 89.47 - 103.57 (Trending now around 101-102. xx )

Ukraine War

Crude Prices: <a href='https://www.macrotrends.net/1369/crude-oil-price-history-chart'>Macrotrends</a>

Covid / Monkey Pox / Viral flavor of the month (Fear Tactics)

Supply Chain Challenges

Manufactured slowdowns of goods...for example China closing key manufacturing plants in an attempt to retain pricing power.

Continued FALLING YEN! (Danger Zone)

BTC .D Dominance! (46.78% Currently) Up from 39.26% in Jan 2022

Housing: Who would have EVER thought the CURE of the housing shortage was higher interest rates. By some sort of miracle, there's no longer a shortage! https://www.thetitlereport.com/Articles/...

*** CAUTION *** There are significant CRACKS in housing, especially in those areas that enjoyed MASSIVE double-digit gains in most recent years. Looking for WALL ST corps to dump asset inventories as to not carry negative appreciative assets on their balance sheets. 1 out of 5 homes on the market currently has price reductions already. Look for significant additions of inventory VERY soon as even more people are priced out and corporate landlords like BlackRock will be looking to offset their portfolios not gain. The FED also looking to sell MBS (Mortgage Backed Securities) instead of buying them, will force lenders to keep more mortgages on their balance sheets (They are already adjusting for tightening lending requirements. REFI markets with even higher interest rates are almost completely DEAD. Mortgage companies have already begun restructuring (layoffs) of many mortgage personnel.

Looking for a 40-50% reduction in housing prices (Generally speaking, go back to 2016 / 2017 and add 5% to those sales prices and that will provide realistic guidance of where the housing prices will retrace to.

ALL of the above is strictly entertainment and not financial advice. ;-) GOOD LUCK EVERYONE!
Comment: US Jobs Report Updated 06/03 - EST 325K, "experts est 190K - Actual 390,000!!! More fuel for the FED to be even MORE aggressive!

USD strengthens on news UP 102.13+

https://www.cnbc.com/2022/06/02/stock-ma...

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