I cant believe what happened with this rally in crypto. Literally nobody is talking to me about crypto or asking how to buy it this time. Previous rally's, I have had people contact me from years ago asking how to get in to crypto right at the top. This time nobody. Its quite strange.
Well we had the nice pullback to 38.2 Fibo. I was hoping to see a bigger pullback but that will do. I would not be surprised to see it hold in this range until the halving expected around April.
When we have seen a big disconnect between stocks and junk bonds it did not end well for stock. Watch out if the yield curve starts to steepen.
Bitcoin hit my target at the monthly kijun sen. I expected it would have a decent pullback before heading to my target but it turned out to be a consolidation then continuation. Back in mid 2019 it hit the kijun sen and failed back into a 12 month consolidation. Interesting to see if it falls back into a consolidation ahead of the halvening next year.
Well, what a rip this has been in crypto for the past couple of weeks. Looking for a good solid retrace now and a good sell-off in alt coins before really going in balls deep.
SPX monthly has another red inside candle. Breadth back below the key 60% level. Has been accurate the last few times.
Looks like the retrace of the rally in BTCUSD is underway. I would like to see a 50% retrace. This is the big test.
VIX is below the key long term support. Risk is back on for now. Not to see it will stay that way.
What a rip that was on gold with the $USD getting slammed. Great trading.
QQQ has rallied off a weekly double bottom but looking at the monthly the danger is not over. There a chance for one last flush to the downside to catch out the dumb money.
Junk is one of my favorite indicators for risk assets. If junk confirms this reversal we should see a rally in stocks and crypto. Very early days. A few more weeks should show a confirmation.
When the high yield spread comes down, stocks should rally. If the MACD crosses below the black line it should be bullish for stocks. Lets see how it turns out.
DXY weekly has been hammered to 50% Fibo retrace. Looks very over sold.
I have Monero on top 10 watch. I will just maybe give it a little more time. Very interesting to see over the next couple of weeks.
The monthly stochastic has just barely crossed on ETHUSD. Looking like a solid base. Early days but risk appetite seems to be coming back on.
The rally in LTCUSD looks quite nice. Almost ready to confirm a reversal on the monthly. Too soon to call yet but going in the right direction.
DAX rally has stalled at the weekly resistance. DAX is one of my favorite of all the indices. Might pull back and then have a run at the resistance again.
Missed the stock. Saw a lot of hype about the drug the last couple of years. Would have loved to have long dated options on it. Will be interesting to see what it does.