Trading requires intense personal involvement.
You have to do your own homework, and that is what I advise people to do.
LAST UPDATED:
April 13, 2024, Saturday
Never confuse brains with a bull market.
SPX – The last week is closed down, making the second down bar in a row and it happened first time since October 2023. So, sellers prevail and it opens the possibility of testing the 4,810 level, the previous historical high. This is what the weekly picture shows. Another interesting detail is that last bar low is lower than the bar before, and this is the first time it has happened since January 02, 2024. SPX 2024
Daily, there are some interesting observations to note as well. So it seems that players lost the enthusiasm they showed on March 20’24, when they resumed the up trend. They probably were inspired by the FED’s recent interest rate decisions. The obvious supports here are: 5050, 4,930 and the major one is 4,810 (clearly visible on the weekly picture).
NDX – closed last week down as well, though it still keeps its current trading range of 17,790 – 18,340. NDX 2024
April 15, 2024, Monday (EOD)
The US market wrapped up today’s trading session in the red, which, let’s be honest, isn’t exactly a shocker. Let’s wait when and where it stops this downward move.
Today’s reading: Easy Money (Memos from Howard Marks)
10YR Bonds Yeld reached an interesting key level (KL) BONDS 2024
Gold – is it trying to absorb selling?
April 17, 2024, Wednesday (EOD)
SPX declined further, breaking the key level of 5,050 and closed nearly at 5,000.
Let’s watch if THEY is going to dance around there. Also, I am eager to see if it reaches 4,800 and how.
NDX broke down 17,800 and shaped confirmation of the new lower low on the weekly picture.
Bonds turned down bouncing from obvious key levels. BONDS 2024
CRYPTO – Bitcoing is halving coming days
Bitcoin is about to hit an event called the halving — and it may spark a huge rally
April 21, 2024, Sunday
Bitcoin underwent a halving last Friday. According to various sources, this is bullish news, which is encouraging. The future trajectory of Bitcoin will become apparent in the coming days, weeks, or even months. However, it is crucial to examine how it has performed in the past and attempt to extrapolate this to current trends.
Bitcoin has been halved several times. However, I believe it is essential to identify the point at which it gained recognition and began to be traded by the general public. From this point onwards, I hypothesize that Bitcoin speculation can be considered as more or less adhering to the same laws and rules applicable to other financial instruments such as stocks, commodities, and currencies. Therefore, I will attempt to apply the same set of rules here.
Initially, I observed that it had been on an upward trend until mid-March 2024, when it began to shape a trading range between 60,600 and 74,000. Interestingly, Bitcoin got back and danced with historical highs of April and November 2021. Therefore, it returned to these historical highs after three years. The current trading range has lasted six weeks so far and shows mixed signals.
Sellers started to pressure Bitcoin in mid-March 2024, driving it down to the 60,600 level, where the public considered it a good time to buy, bouncing Bitcoin back to the selling zone around 72-74,000. At the end of March, buyers attempted to absorb the selling, but they lacked the strength to maintain it there, and a new selling wave began on April 2, 2024. It returned to the selling zone on April 08’34, which was a selling retest. After that, it wasn’t surprising to see Bitcoin return to the 60,600 support level, where it danced until the “halving news” came. The coming days will reveal the extent of bullish sentiment there.
Some consider Bitcoin a safe haven during this period of uncertainty. Well, I don’t think that it can be used as such without THEM tricking you into thinking something else. However, this is my pure speculation about the currents, and the price will tell us soon what is about to happen.
BR